SENATE BILL 632

Sponsored By:

Senator Stone

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 in the trust 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

Senate Action

1/31

First Reading Judicial Proceedings

2/5

Hearing 2/27 at 1:00 p.m.

3/10

Favorable with Amendments Report by Judicial Proceedings

3/11

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/13

Third Reading Passed (47-0)

4/3

Senate Concur - House Amendment

Third Reading Passed (47-0)

Passed Enrolled

5/22

Signed by the Governor Chapter 607

House Action

3/14

First Reading Judiciary

3/18

Hearing 3/26 at 1:00 p.m.

3/27

Favorable with Amendments Report by Judiciary

3/25

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/27

Special Order next session (Delegate Redmer) Adopted

Third Reading Passed with Amendments (131-2)

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 (PDF)

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 618846/1 (PDF) Offered on: MARCH 11, 1997 at: 11:25 Status: Adopted

House

Number: 041685/1 (PDF) Offered on: MARCH 27, 1997 at: 10:48 Status: Adopted