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2013 SESSION
SB 756 Perpetuities waiver; exclusions from statutory rule, nondonative transfers.
Introduced by: John S. Edwards | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Rule against perpetuities waiver. Corrects errors in the rule allowing a settlor of a trust with an interest in personal property to opt out of the Uniform Statutory Rule Against Perpetuities. The bill moves the opt-out provision from the Code section that applies to nondonative transfers to the section that lists other exceptions to the application of the Uniform Rule. The bill also specifies that the exception to the Uniform Rule shall not extend to an interest in real property, which does not include an interest in a corporation, limited liability company, partnership, business trust, or other entity, even if such entity owns an interest in real property. The bill further provides that the provisions of the bill are declarative of existing law.
FULL TEXT
- 12/17/12 Senate: Prefiled and ordered printed; offered 01/09/13 13101675D pdf
- 02/18/13 House: Committee substitute printed 13105117D-H1 pdf
- 02/23/13 Senate: Bill text as passed Senate and House (SB756ER) pdf
- 03/13/13 Governor: Acts of Assembly Chapter text (CHAP0323) pdf
HISTORY
- 12/17/12 Senate: Prefiled and ordered printed; offered 01/09/13 13101675D
- 12/17/12 Senate: Referred to Committee for Courts of Justice
- 01/14/13 Senate: Reported from Courts of Justice (14-Y 0-N 1-A)
- 01/15/13 Senate: Constitutional reading dispensed (40-Y 0-N)
- 01/16/13 Senate: Read second time and engrossed
- 01/17/13 Senate: Passed by for the day
- 01/18/13 Senate: Passed by for the day
- 01/21/13 Senate: Read third time and passed Senate (27-Y 12-N)
- 01/25/13 House: Placed on Calendar
- 01/25/13 House: Read first time
- 01/25/13 House: Referred to Committee for Courts of Justice
- 02/08/13 House: Assigned Courts sub: #2 Civil
- 02/11/13 House: Subcommittee recommends reporting with amendment(s) (6-Y 1-N)
- 02/18/13 House: Reported from Courts of Justice with substitute (16-Y 2-N)
- 02/18/13 House: Committee substitute printed 13105117D-H1
- 02/19/13 House: Read second time
- 02/20/13 House: Read third time
- 02/20/13 House: Committee substitute agreed to 13105117D-H1
- 02/20/13 House: Engrossed by House - committee substitute SB756H1
- 02/20/13 House: Passed House with substitute (94-Y 2-N)
- 02/20/13 House: VOTE: PASSAGE (94-Y 2-N)
- 02/21/13 Senate: House substitute agreed to by Senate (36-Y 4-N)
- 02/21/13 Senate: Title replaced 13105117D-H1
- 02/23/13 Senate: Enrolled
- 02/23/13 Senate: Bill text as passed Senate and House (SB756ER)
- 02/23/13 Senate: Signed by President
- 02/23/13 House: Signed by Speaker
- 03/13/13 Governor: Approved by Governor-Chapter 323 (effective 7/1/13)
- 03/13/13 Governor: Acts of Assembly Chapter text (CHAP0323)