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Tagged in: Fiduciaries

Latest Update: Thursday, July, 24th 2008

Companion Bill SB1832.

Trusts - Clarifies the definition of "power of withdrawal" in the Tennessee Uniform Trust Code. - Amends TCA Title 35.

Fiscal Summary for HB1711 / *SB1832

MINIMAL


Bill Summary for HB1711 / *SB1832

ON MAY 31, 2007, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 1832, AS AMENDED.

AMENDMENT #1 rewrites this bill and clarifies the definition of "power of withdrawal" in the Tennessee Uniform Trust Code. Present law defines the phrase as: a presently exercisable general power of appointment other than a power:
(1) Exercisable by a trustee and limited to an ascertainable standard; or
(2) Exercisable by another person only.
This amendment revises the language in (2) to exclude a power "exercisable by another person only upon consent of the trustee or a person holding an adverse interest."



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Latest Actions
  • 06/27/2007 - Companion became Public Chapter 477
  • 06/07/2007 - Companion Senate Bill Substituted
  • 06/06/2007 - H. Placed on Regular Calendar for 6/7/07
  • 06/05/2007 - Placed on Calendar Calendar & Rules Committee for 06/06/2007
  • 06/05/2007 - Recommended for Passage if am., Referred to Calendar & Rules

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Bill Text
File name Last Updated
HB1711 Bill Text PDF10/27/2007
Amendment 1-0 to HB171110/27/2007

Fiscal Notes
File name Last Updated
Fiscal Memo - Amendment 1-0 to SB183210/27/2007
SB1832 Fiscal Notes PDF10/27/2007