SB282 Alabama 2021 Session
Bill Summary
Under the Alabama Uniform Trust Code, a beneficiary may not commence a proceeding against a trustee for breach of trust more than two years after the date the beneficiary was sent a report that adequately disclosed the existence of a potential claim for breach of trust
This bill would define the term report to include an account statement or other form of written disclosure made by the trustee to the beneficiary
Also under the Alabama Uniform Trust Code, certain responsibilities are imposed on a trustee when a trustee is seeking to be released from its duties due to trust termination, trustee resignation, or trustee removal
This bill would provide a process for a trustee seeking to be released from its duties to a trust
Relating to the Alabama Uniform Trust Code; to amend Section 19-3B-1005, Code of Alabama 1975, to further provide for reports of the existence of a potential claim for breach of trust; and to add Section 19-3B-1306 to the Code of Alabama 1975, to provide a procedure for the release of a trustee from its duties to a trust.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 29, 2021 | S | Assigned Act No. 2021-384. |
| April 29, 2021 | S | Enrolled |
| April 29, 2021 | H | Signature Requested |
| April 29, 2021 | S | Passed Second House |
| April 27, 2021 | H | Wood (D) intended to vote Yea |
| April 27, 2021 | H | Motion to Read a Third Time and Pass adopted Roll Call 1012 |
| April 27, 2021 | H | Third Reading Passed |
| April 13, 2021 | H | Read for the second time and placed on the calendar |
| March 11, 2021 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
| March 11, 2021 | S | Motion to Read a Third Time and Pass adopted Roll Call 520 |
| March 11, 2021 | S | Third Reading Passed |
| March 3, 2021 | S | Read for the second time and placed on the calendar |
| March 2, 2021 | S | Read for the first time and referred to the Senate committee on Banking and Insurance |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 13, 2021 | Room 617 at 11:30 | House FS Hearing |
| Hearing | April 6, 2021 | Room 617 at 12:00 | House FS Hearing |
| Hearing | March 3, 2021 | Room 825 at 11:00 | Senate B&I Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB282 Alabama 2021 Session - Enrolled |
| Bill Text | SB282 Alabama 2021 Session - Introduced |
| Fiscal Note | Fiscal Note - SB282 for Banking and Insurance |
| Fiscal Note | Fiscal Note - SB282 for Financial Services |