Bill Title: Various trust matters. Defines "designated representative", "judicial proceeding", and "nonjudicial matter" for purposes of the trust code. Authorizes the establishment of legacy trusts. Prescribes the procedures for establishing a legacy trust and requirements for claims under a legacy trust. Provides that a court shall exercise jurisdiction over a legacy trust or a qualified disposition and adjudicate a case or controversy regarding the legacy trust, if the case or controversy is within the subject matter of the court. Adopts the uniform directed trust act, which allows for the terms of a trust to grant a person other than a trustee power

Spectrum: Partisan Bill (Republican 3-0)

Status: (Passed) 2019-05-05 - Public Law 221 [SB0265 Detail]

Text: Latest bill text (Enrolled) [PDF]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Randall Head [R]	Primary	Sponsored Bills	SD-018	FollowTheMoney	Ballotpedia	VoteSmart
Senator Michael Young [R]	Primary	Sponsored Bills	SD-035	FollowTheMoney	Ballotpedia	VoteSmart
Representative Gregory Steuerwald [R]	Primary	Sponsored Bills	HD-040	FollowTheMoney	Ballotpedia	VoteSmart

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