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2007 SESSION
HB 2767 Fiduciaries; presumption of prudence.
Introduced by: Robert Hurt | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Fiduciaries; presumption of prudence. Clarifies when fiduciaries will receive the presumption of prudence in investing and extends the presumption to custodians and custodial trustees. The bill provides that the presumption of prudence in investing only applies to a fiduciary (i) in a calendar year in which the value of the intangible personal property under his management does not exceed $100,000 at the beginning of the year, or (ii) who has obtained express authorization from a court with jurisdiction that the presumption of prudence in investing applies.
SUMMARY AS INTRODUCED:
Fiduciaries; presumption of prudence. Clarifies when fiduciaries will receive the presumption of prudence in investing and extends the presumption to custodians and custodial trustees.