1997 Regular Session

HOUSE BILL 985

File Code: Estates and Trusts Crossfiled with: SENATE BILL 632
Sponsored By:
Delegates Dembrow and Finifter
Entitled:
Estates and Trusts - Duties of Trustee

Synopsis:

Limiting the duties of a trustee regarding the acquisition, retention, or ownership of a contract of life insurance on the life of the grantor of the trust or on the lives of the grantor and the grantor's spouse, children, or grandchildren; and applying the Act to trusts existing on or after the effective date of the Act.

Legislative History

House Action
1/31
First Reading Judiciary
2/5
Hearing 2/21 at 1:00 p.m.
2/24
Favorable with Amendments Report by Judiciary
2/25
Favorable with Amendments Report Adopted
Special Order 2/26 (Delegate Brinkley) Adopted
2/26
Second Reading Passed with Amendments
2/28
Third Reading Passed (135-0)
3/30
Returned Passed
5/22
Governor vetoed - Cross-filed bill was signed
Senate Action
3/3
First Reading Judicial Proceedings
3/31
Favorable Report by Judicial Proceedings
4/1
Favorable Report Adopted
Second Reading Passed
4/2
Third Reading Passed (47-0)
Sponsored by:
Delegate Dana Lee Dembrow, District 20
Delegate Michael J. Finifter, District 11
Bill indexed under the following Subjects:
ESTATES AND TRUSTS -see also- FIDUCIARIES
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
Bill affects the following Statute:
Estates and Trusts
( 15-115 )

Documents:

Bill Text:
First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)

Amendments:
House
Number: 491685/1 (PDF) Offered on: FEBRUARY 25, 1997 at: 10:40 Status: Adopted