Mark H. Beaubien, Jr.
- Republican
Primary
Amends the Principal and Income Act. Provides that if, in the judgment of the trustee, the charging of the required part of the compensation due to the trustee, attorney, investment counsel, custodian, or accountant is (i) impractical because of the lack of sufficient income cash or principal cash and readily marketable intangible property or (ii) inadvisable because of the nature of the asset, then the trustee may pay the compensation out of the principal or income as the trustee sees fit. Provides that the decision to pay compensation out of the income or principal is conclusive and neither the income nor the principal is entitled to reimbursement. Makes other changes. Effective immediately.
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Tabled By Sponsor Rep. Mark H. Beaubien, Jr.
Motion Prevailed
Motion Filed Rep. Mark H. Beaubien, Jr.; Table House Bill 2403 Pursuant to Rule 60(b)
Rule 19(a) / Re-referred to Rules Committee
Assigned to Executive Committee
Referred to Rules Committee
First Reading
Filed with the Clerk by Rep. Mark H. Beaubien, Jr.
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