SENATE BILL 153

Sponsored By:

Senators Garagiola and Giannetti

Entitled:

Trusts - Termination by Corporate Fiduciary

Synopsis:

Altering from $50,000 to $100,000 the maximum amount of the fair market value of a trust that a corporate fiduciary acting as a trustee may terminate without an order of court; repealing the registered mail option for sending specified notices and objections; providing that the Act applies to all trusts existing on or after June 1, 2004; etc.

History by Legislative Date

Senate Action

1/23

First Reading Judicial Proceedings

1/28

Hearing 2/3 at 1:00 p.m.

2/17

Favorable with Amendments Report by Judicial Proceedings

2/18

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

2/20

Third Reading Passed (44-0)

4/5

Returned Passed

5/11

Signed by the Governor Chapter 254

House Action

2/23

First Reading Judiciary

3/17

Hearing 3/31 at 1:00 p.m.

4/5

Favorable Report by Judiciary

4/2

Favorable Report Adopted

Second Reading Passed

4/3

Third Reading Passed (139-0)

Sponsored by:

Senator Rob Garagiola, District 15

Senator John A. Giannetti, Jr., District 21

Bill indexed under the following Subjects:

BANKS AND TRUST COMPANIES

ESTATES AND TRUSTS

FIDUCIARIES

NOTICES

POSTAL SERVICE

Bill affects the following Statute:

Estates and Trusts

( 14-107 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 768873/01 (PDF)     Offered on: February 18, 2004   at: 10:20 a.m.     Status: Adopted

Roll Call Votes (Legislative dates are shown):

Senate

February 20, 2004: Third Reading Passed (44-0)

House

April 3, 2004: Third Reading Passed (139-0)