Darla Daniel, Co-legislative Liaison for CBA Trust and Estates Section, reported that the subcommittee working on this act has approved the first three sections and is currently on section four. The subcommittee is working with the banking community and other stakeholders its review. The subcommittee would like to report back at the next commission meeting before committing to introducing the act this session.
The commission asked about introducing part five of the Uniform Trust Act as an addition to the Fiduciary Income and Principal Act. Brooke Brestel, CBA Elder Law Section, reported that the CBA has made progress towards that goal and could report progress at the next meeting. Commissioner Pike moved that the commission defer consideration until the next meeting, Commissioner Whitfield seconded, and the motion passed without objection.