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CS/CS/SB 2218: Trusts [EPCC]

GENERAL BILL by Judiciary ; Banking and Insurance ; Posey

Trusts [EPCC]; revises criteria for investments in certain investment instruments; provides criteria, requirements, & limitations on trustee's power to invade principal of trust; limits definition of term "land trust" to arrangement in which title to real property is vested in trustee by recorded instrument that confers certain authority as prescribed by state law; clarifies use of income interest of trust, etc. Amends Chs. 731, 736, 660.417, 689.071.

Effective Date: 07/01/2007
 Last Action: 4/30/2007 Senate - Placed on Special Order Calendar; Substituted CS/HB 743 -SJ 00730; Laid on Table, Link/Iden/Sim/Compare passed, refer to CS/HB 743 (Ch. 2007-153) -SJ 00730
Bill Text: Web Page | PDF

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  • Bill History

    Date Chamber Action
    2/26/2007 Senate • Filed
    3/15/2007 Senate • Introduced, referred to Banking and Insurance; Judiciary -SJ 00147
    4/12/2007 Senate • On Committee agenda-- Banking and Insurance, 04/16/07, 1:30 pm, 412-K
    4/16/2007 Senate • CS by Banking and Insurance; YEAS 8 NAYS 0 -SJ 00439; CS read 1st time on 04/18/07 -SJ 00451
    4/17/2007 Senate • Pending reference review under Rule 4.7(2)
    4/18/2007 Senate • Now in Judiciary -SJ 00439; On Committee agenda-- Judiciary, 04/23/07, 1:30 pm, 110-S
    4/23/2007 Senate • CS/CS by- Judiciary; YEAS 9 NAYS 0 -SJ 00545; CS read 1st time on 04/25/07 -SJ 00557
    4/25/2007 Senate • Pending reference review -under Rule 4.7(2); Placed on Calendar, on 2nd reading -SJ 00545
    4/30/2007 Senate • Placed on Special Order Calendar; Substituted CS/HB 743 -SJ 00730; Laid on Table, Link/Iden/Sim/Compare passed, refer to CS/HB 743 (Ch. 2007-153) -SJ 00730

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  • CS/CS/SB 2218, Committee Substitute 2 (Current Bill Version) Posted 4/25/2007 at 11:49 AM

    Bill Text:   Web Page | PDF
    Analyses:   Judiciary (Post-Meeting) 4/25/2007 (pdf)

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location
    H 743 (e2) Hukill Identical Last Action: 6/15/2007 Approved by Governor; Chapter No. 2007-153
    Location:
    H 1183 (c1) Administration of Trusts Hooper Similar Last Action: 5/4/2007 H Died on Calendar, Link/Iden/Sim/Compare passed, refer to CS/HB 743 (Ch. 2007-153)
    Location:
    S 2606 Administration of Trusts [LPCC] Aronberg Similar Last Action: 5/4/2007 S Died in Committee on Judiciary, Link/Iden/Sim/Compare passed, refer to CS/HB 743 (Ch. 2007-153)
    Location:

    Committee Votes (1)

    Date Committee Result
    4/23/2007 1:30 PM Judiciary View Vote Record

    Citations - Statutes (19)

    Citation Catchline Location in Bill Location In Bill Help
    660.417 Investment of fiduciary funds into mutual fund accounts; permissible activity under certain circumstances.
    689.071 Florida Land Trust Act.
    731.201 General definitions.
    731.303 Representation.
    736.0102 Scope.
    736.04117
    736.0501 Rights of beneficiary's creditor or assignee.
    736.0502 Spendthrift provision.
    736.0503 Exceptions to spendthrift provision.
    736.0504 Discretionary trusts; effect of standard.
    736.0802 Duty of loyalty.
    736.0813 Duty to inform and account.
    736.0816 Specific powers of trustee.
    736.1001 Remedies for breach of trust.
    736.1008 Limitations on proceedings against trustees.
    736.1011 Exculpation of trustee.
    736.1106 Antilapse; survivorship with respect to future interests under terms of inter vivos and testamentary trusts; substitute takers.
    736.1204 Powers and duties of trustee of a private foundation trust or a split interest trust.
    736.1209 Election to come under this part.

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  • CS/SB 2218, Committee Substitute 1 Posted 4/17/2007 at 5:16 PM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Post-Meeting) 4/16/2007 (pdf)

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    303240 - Amendment
    		Judiciary
    (Geller)     		4/20/2007
    6:03 PM     		Replaced by Committee Substitute
    4/23/2007     		Web Page
    PDF
    075346 - Amendment
    		Judiciary
    (Geller)     		4/23/2007
    4:29 PM     		Replaced by Committee Substitute
    4/23/2007     		Web Page
    PDF

    Citations - Statutes (7)

    Citation Catchline Location in Bill Location In Bill Help
    660.417 Investment of fiduciary funds into mutual fund accounts; permissible activity under certain circumstances.
    731.201 General definitions.
    736.04117
    736.0802 Duty of loyalty.
    736.0816 Specific powers of trustee.
    736.1008 Limitations on proceedings against trustees.
    736.1011 Exculpation of trustee.

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  • SB 2218, Original Filed Version Posted 2/26/2007 at 3:25 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    820792 - Amendment
    		Banking and Insurance
    (Posey)     		4/13/2007
    1:24 PM     		Replaced by Committee Substitute
    4/16/2007     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/16/2007 1:30 PM Banking and Insurance 8 Yeas - 0 Nays

    Citations - Statutes (5)

    Citation Catchline Location in Bill Location In Bill Help
    660.417 Investment of fiduciary funds into mutual fund accounts; permissible activity under certain circumstances.
    736.0802 Duty of loyalty.
    736.0816 Specific powers of trustee.
    736.1008 Limitations on proceedings against trustees.
    736.1011 Exculpation of trustee.

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