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669051B319B85420872585E7007B5AEF Hearing Summary




PUBLIC
BILL SUMMARY For UNIFORM FIDUCIARY INCOME AND PRINCIPAL ACT

JOINT COMMITTEE COMMITTEE ON COLORADO COMMISSION ON UNIFORM STATE LAWS
Date Sep 18, 2020      
Location HCR 0112



Uniform Fiduciary Income and Principal Act - To be drafted as a commission bill


04:30:38 PM  

Georgine Kryda, CBA Trust & Estate Section and co-chair of the subcommittee reviewing the act, stated the subcommittee was impressed with the wording in the act. It has completed its review and retained approximately 95% of the act as proposed, but does recommend some changes. The section has approved the recommendations and is now waiting for CBA Legislative Policy Committee approval. Mr. White has the subcommittee's notes on the act and can share them with the commission.

      Darla Daniel, Co-legislative Liaison for CBA Trust & Estate Section, added that the act is not expected to be controversial and the section found the language to be an improvement on the existing principal and income act.

      Commissioner Gardner moved to draft the Uniform Fiduciary Income and Principal Act. Commissioner Whitfield seconded and the motion passed without objection. Commissioner Gardner agreed to sponsor the bill.



04:32:37 PM
Motion Moved to draft the Uniform Fiduciary Income and Principal Act.
Moved Gardner
Seconded
Alicia Duran
Gardner
Thomas Grimshaw Excused
Claire Levy
Donald Mielke
Thomas Morris
Charley Pike
Sara Scott
Tipper
Joseph Whitfield
YES: 0   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  Pass Without Objection






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