HB1621 - Tennessee - Fiduciaries, Titles, Short, Trusts

Companion Bill SB0691. Trusts - Enacts the "Uniform Prudent Management of Institutional Funds Act." - Amends and repeal portions of TCA Title 35. Fiscal Summary for HB1621 / *SB0691Increase State Expenditures - Not Significant Bill Summary for HB1621 / *SB0691 Under present law, the Uniform Management of Institutional Funds Act of 1973 establishes requirements for "institutions" (defined as incorporated or unincorporated organizations organized and operated exclusively for educational, religious, charitable or other eleemosynary purposes, or governmental organizations to the extent that they hold funds exclusively for any of these purposes in regard to such institutions expending and investing funds). This bill repeals the Uniform Management of Institutional Funds Act and replaces it with the provisions of this bill, the Uniform Prudent Managers [...]

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