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Legislation


2002 Regular Session

HOUSE BILL 881

File Code: Estates and Trusts Crossfiled with: SENATE BILL 641
Sponsored By:
Delegates Dembrow and Vallario
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

House Action
2/7
First Reading Judiciary
2/12
Hearing 3/8 at 1:00 p.m.
3/25
Favorable with Amendments Report by Judiciary
3/23
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/24
Third Reading Passed (138-0)
3/31
Returned Passed
5/15
Governor vetoed - Duplicative
Senate Action
3/26
First Reading Judicial Proceedings
3/29
Favorable Report by Judicial Proceedings
3/30
Favorable Report Adopted
Second Reading Passed
3/31
Third Reading Passed (47-0)
Sponsored by:
Delegate Dana Lee Dembrow, District 20
Delegate Joseph F. Vallario, Jr., District 27A
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:
House
Number: 102519/1 (PDF)     Offered on: March 25, 2002   at: 1:40 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 24, 2002: Third Reading Passed (138-0)
Senate
March 31, 2002: Third Reading Passed (47-0)
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