9A700742F5563088872586400067FB99 Hearing Summary CLICS/CLICS2020A/commsumm.nsf PUBLICBILL SUMMARY For LLS 21-0201: UNIF TRUST ACT, PART 5JOINT COMMITTEE COMMITTEE ON COLORADO COMMISSION ON UNIFORM STATE LAWSDate Dec 16, 2020 Location HCR 0112 LLS 21-0201: Unif Trust Act, part 5 - To be introduced as a Commission Bill Attachment Tag File Name Attachment http://www2.leg.state.co.us/CLICS/CLICS2020A/commsumm.nsf/0/2726BEA8C64C...$File/21-0201-20201113.pdf?OpenElement 21-0201-20201113.pdf 11:55:48 AM Connie Eyster, Chair of Trust & Estates Section Subcommittee reviewing part 5: this part was not included in the 2019 enactment of the UTC to allow for additional review, amendments, and to obtain consensus among practitioners. The draft bill, as amended, has been approved by the section, the Elder Law Section, and the CBA Legislative Policy Committee. The commission had questions about §15-5-505 (1.5) and (2) [reserved]. Ms. Eyster replied that the section is regarding creditors and settlor law and that the subcommittee added some exceptions to comply with current Colorado law, but they were similar to what other states had added. The reserved portion dealt with creditor access to assets to which the benefactor has a general power of appointment. Existing Colorado case law prohibits access to these assets until that power is exercised and the uniform law took a different approach. It was decided to let the existing case law stand. Ms. Eyster confirmed that the changes to the Act were not significant and that the bill draft should still be considered uniform. The commission thanked the CBA for their hard work on the Act. 12:07:35 PM Commissioner Levy moved to introduce LLS 21-0201: Uniform Trust Act, part 5 as a commission bill, with any technical amendments needed. Commissioner Morris seconded and the motion passed 9-0. Commissioner Gardner agreed to sponsor the bill and start it in the Senate. He and Commissioner Tipper will find a House sponsor. 12:08:34 PM Motion Moved to introduce LLS 21-0201: Uniform Trust Act, part 5 as a commission bill, with any technical amendments needed. Moved Claire Levy Seconded Alicia Duran Yes Thomas Grimshaw Excused Donald Mielke Yes Thomas Morris Yes Charley Pike Yes Sara Scott Yes Tipper Yes Joseph Whitfield Yes Gardner Yes Claire Levy Yes YES: 9 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS