HB1622 - Tennessee - Banks And Financial Institutions, Trusts

Companion Bill SB1046. Trusts - Makes numerous technical corrections to present law regarding trusts, such as duties of trustees and charitable trusts. - Amends TCA Title 35. Fiscal Summary for HB1622 / *SB1046MINIMAL Bill Summary for HB1622 / *SB1046 This bill revises various provisions of the Tennessee Uniform Trust Code, including the following: (1) Under present law, a charitable organization expressly designated to receive distributions under the terms of a charitable trust or a person appointed to enforce a trust created for the care of an animal or another noncharitable purpose has the rights of a qualified beneficiary. This bill removes the provision for a person appointed to enforce a trust created for the care of an animal or noncharitable purpose having the rights of a qualified beneficiary. This bill also specifies that the [...]

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