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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2018 Alabama Legislative Regular Session
  5. 2018 Alabama Senate Bills
  6. SB 227

SB 227

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In Committee
Contents hide
  • 1 Bill Summary
  • 2 Bill Actions
  • 3 Bill Calendar
  • 4 Bill Text
  • 5 Bill Documents

Bill Summary

Sponsors
  • Greg Albritton
Session
Regular Session 2018
Title
Trusts, Uniform Trust Decanting Act, enacted, decanting power of fiduciaries of certain trusts to distribute assets of the trusts to other trusts, fiduciary duties, procedures, notice, limitations, trusts for the care of animals, authorized
Description

This bill would provide for the Alabama Uniform Trust Decanting Act and would give the authorized fiduciary of certain trusts decanting power to modify the trust either directly or by distributing assets to another trust while still carrying out the material purposes of the settlor and protecting the beneficiaries of the trust

This bill would provide for the fiduciary duties of the authorized fiduciary and would provide procedures for an authorized fiduciary who exercises the decanting power

This bill would provide notice requirements and circumstances that would involve the Attorney General or the courts with respect to the decanting of certain types of trusts

This bill would provide limitations and restrictions on the exercise of the decanting power and authorize under certain circumstances decanting of trusts for the care of an animal

To provide for the Alabama Uniform Trust Decanting Act; to give authorized fiduciaries of certain trusts decanting power; to provide for fiduciary duties; to provide procedures for exercising the decanting power; to provide notice requirements; to specify circumstances that would involve the courts or the Attorney General in decanting; to provide limitations and restrictions on the exercise of the decanting power; and to authorize under certain circumstances the decanting of trusts for the care of an animal.

Subjects
Trusts

Bill Actions

Action Date Chamber Action
January 25, 2018 S Read for the first time and referred to the Senate committee on Banking and Insurance

Bill Calendar

Type Date Location Description
Hearing February 28, 2018 Room 320 at 11:30 Senate B&I Hearing

Bill Text

Download SB 227 PDF

Bill Documents

Type Link
Bill Text SB 227 - Introduced

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