Mississippi Legislature
2005 Regular Session

House Bill 889

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Bill Text

History of Actions

Amendments

Background

Title

Description: Trusts; authorize beneficiaries to seek court approval to terminate under certain circumstances.

Bill Text: [Introduced] [Passed House]

History of Actions:

1 01/14 (H) Referred To Appropriations
2 01/27 (H) Title Suff Do Pass
3 02/02 (H) Passed
4 02/02 (H) Motion to Reconsider Entered
5 02/10 (H) Motion to Reconsider Tabled
6 02/10 (H) Transmitted To Senate
7 02/15 (S) Referred To Judiciary, Division A
8 02/23 (S) Title Suff Do Pass
9 03/09 (S) Amended
10 03/09 (S) Passed As Amended
11 03/09 (S) Motion to Reconsider Entered
12 03/11 (S) Died On Calendar

Amendments:

Adopted [S] Amendment No 1

Background Information:

Effective dateJuly 1, 2005
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority

House Committee:

Senate Committee:

Principal Author: Martinson

Code Section: A 091-0009-0107

Title: AN ACT TO AMEND SECTION 91-9-107, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IF THE MARKET VALUE OF A TRUST IS LESS THAN $150,000.00 AND THE AGGREGATE AMOUNT OF THE FEES CHARGED TO THE TRUST BENEFICIARIES DURING A CALENDAR YEAR IS MORE THAN ONE-THIRD OF THE AMOUNT OF THE INCOME EARNED BY THE TRUST DURING THE SAME YEAR THAT OTHERWISE WOULD BE PAYABLE TO THE BENEFICIARIES, THEN THREE-FIFTHS OF THE BENEFICIARIES OF THE CURRENT INCOME OF THE TRUST PROPERTY MAY SEEK COURT APPROVAL TO TERMINATE THE TRUST; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/11/05 at 15:12.

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2005/html/History/HB/HB0889.htm