SENATE BILL 641

Sponsored By:

Senator Baker

Entitled:

Uniform Principal and Income Act - Unitrust Conversion - Adjustments Between Principal and Income

Synopsis:

Authorizing a trustee to convert a trust to a unitrust or make adjustments between principal and income under specified circumstances; requiring a trustee to give notice to specified persons of specified proposed decisions regarding the power to convert a trust to a unitrust or to adjust between principal and income; providing for judicial review of specified proposed decisions; etc.

History by Legislative Date

Senate Action

2/1

First Reading Judicial Proceedings

2/6

Hearing 3/7 at 1:00 p.m.

3/18

Favorable with Amendments Report by Judicial Proceedings

3/19

Favorable with Amendments Adopted

Second Reading Passed with Amendments

3/21

Third Reading Passed (44-0)

3/31

Returned Passed

5/16

Signed by the Governor Chapter 478

House Action

3/21

First Reading Judiciary

Hearing 3/27 at 1:00 p.m.

3/29

Favorable Report by Judiciary

3/28

Favorable Report Adopted

Second Reading Passed

3/29

Third Reading Passed (134-0)

Bill indexed under the following Subjects:

DISCLOSURE

ESTATES AND TRUSTS

JUDICIAL REVIEW -see also- APPEALS

NOTICES

UNIFORM LAWS

Bill affects the following Statutes:

Estates and Trusts

( 15-501 , 15-502.1 , 15-502.2 , 15-502.3 , 15-515 , 15-520 , 15-528 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 308670/3 (PDF)     Offered on: March 19, 2002   at: 10:29 a.m.     Status: Adopted

Roll Call Votes (Legislative dates are shown):

Senate

March 21, 2002: Third Reading Passed (44-0)

House

March 29, 2002: Third Reading Passed (134-0)