Rip Sullivan
- Democratic
- Delegate
- District 6
Primary
Uniform Fiduciary Income and Principal Act.Codifies the Uniform Fiduciary Income and Principal Act, which replacesthe prior uniform act to reflect modern trust investment practicesin the allocation of principal and income. The bill provides proceduresfor trustees administering estates and gives them additional flexibilityto administer discretionary trusts to ensure that the intention ofthe creator of the trust is accomplished. The bill includes provisionsfor converting a traditional trust into a "unitrust" to allow fortotal-return investing.
Approved by Governor-Chapter 354 (effective 7/1/22)
Governor's Action Deadline 11:59 p.m., April 11, 2022
Enrolled Bill communicated to Governor on March 9, 2022
Impact statement from DPB (HB370ER)
Enrolled
Signed by President
Signed by Speaker
Passed Senate (40-Y 0-N)
Read third time
Constitutional reading dispensed (38-Y 0-N)
Reported from Judiciary (14-Y 0-N)
Constitutional reading dispensed
Referred to Committee on the Judiciary
VOTE: Passage #2 (100-Y 0-N)
Passed House (100-Y 0-N)
Reconsideration of passage agreed to by House
VOTE: Block Vote Passage (99-Y 0-N)
Read third time and passed House Block Vote (99-Y 0-N)
Impact statement from DPB (HB370)
Read second time and engrossed
Read first time
Reported from Courts of Justice (18-Y 0-N)
Subcommittee recommends reporting (8-Y 0-N)
Assigned Courts sub: Subcommittee #2
Referred to Committee for Courts of Justice
Prefiled and ordered printed; offered 01/12/22 22102105D
| Bill Text Versions | Format |
|---|---|
| Prefiled and ordered printed; offered 01/12/22 22102105D | PDF HTML |
| HB370ER | PDF HTML |
| CHAP0354 | PDF HTML |
| Document | Format |
|---|---|
| Fiscal Impact Statement: HB370FER122.PDF | |
| Fiscal Impact Statement: HB370F122.PDF |
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