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2007 SESSION
HB 2832 Spendthrift trust; related duties.
Introduced by: Katherine B. Waddell | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Spendthrift trust; related duties. The changes to § 55-541.05 make the statute more consistent with other related code sections and the common law rule imposing on trustees the duty to act in good faith in accordance with the terms of the trust and the interests of the beneficiaries. Changes to §§ 55-545.01, 55-545.03 and 55-545.06 make it clear that an exception creditor cannot reach a beneficiary's interest even if the instrument contains a spendthrift provision, allow the court to limit an exception creditor's access to a beneficiary's benefits, and define mandatory distribution, respectively.
FULL TEXT
- 01/10/07 House: Prefiled and ordered printed; offered 01/10/07 076077372 pdf
- 02/16/07 House: Bill text as passed House and Senate (HB2832ER) pdf
- 03/14/07 Governor: Acts of Assembly Chapter text (CHAP0216) pdf
HISTORY
- 01/10/07 House: Prefiled and ordered printed; offered 01/10/07 076077372
- 01/10/07 House: Referred to Committee for Courts of Justice
- 01/17/07 House: Assigned Courts sub: Civil Law
- 01/26/07 House: Reported from Courts of Justice (19-Y 0-N)
- 01/30/07 House: Read first time
- 01/31/07 House: Read second time and engrossed
- 02/01/07 House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 02/01/07 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/01/07 House: Communicated to Senate
- 02/02/07 Senate: Constitutional reading dispensed
- 02/02/07 Senate: Referred to Committee for Courts of Justice
- 02/07/07 Senate: Reported from Courts of Justice (14-Y 0-N)
- 02/09/07 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/09/07 Senate: VOTE: (39-Y 0-N)
- 02/12/07 Senate: Read third time
- 02/12/07 Senate: Passed Senate (40-Y 0-N)
- 02/12/07 Senate: VOTE: (40-Y 0-N)
- 02/16/07 House: Enrolled
- 02/16/07 House: Bill text as passed House and Senate (HB2832ER)
- 02/16/07 House: Signed by Speaker
- 02/19/07 Senate: Signed by President
- 03/09/07 Governor: Approved by Governor-Chapter 216 (effective 7/1/07)
- 03/14/07 Governor: Acts of Assembly Chapter text (CHAP0216)