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Glossary of Legislative Terms

CS/SB 1050: Fiduciaries

GENERAL BILL by Banking and Insurance ; Bogdanoff

Fiduciaries; Requiring a mortgage holder to provide certain information within a specified time relating to the unpaid loan balance due under a mortgage if a mortgagor, a record title owner of the property, a fiduciary or trustee lawfully acting on behalf of a record title owner, or any person lawfully authorized to act on behalf of a mortgagor or record title owner of the property makes a written request under certain circumstances; deleting a provision authorizing a trustee to release the power to adjust between principal and income if the trustee desires to convert the form of certain trusts, etc.

Effective Date: 1/1/2013
 Last Action: 4/7/2012 - Chapter No. 2012-49
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Judiciary (JU)

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  • Bill History

    Date Chamber Action
    11/21/2011 Senate • Filed
    12/8/2011 Senate • Referred to Banking and Insurance; Judiciary -SJ 86
    1/10/2012 Senate • Introduced -SJ 86
    2/2/2012 Senate • On Committee agenda-- Banking and Insurance, 02/07/12, 1:30 pm, 412 Knott Building
    2/7/2012 Senate • CS by Banking and Insurance; YEAS 10 NAYS 0 -SJ 484
    2/8/2012 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    2/9/2012 Senate • Now in Judiciary -SJ 484
    • CS by Banking and Insurance read 1st time -SJ 486
    2/14/2012 Senate • On Committee agenda-- Judiciary, 02/16/12, 10:30 am, 110 Senate Office Building
    2/16/2012 Senate • Favorable by- Judiciary; YEAS 7 NAYS 0 -SJ 523
    • Placed on Calendar, on 2nd reading -SJ 523
    2/22/2012 Senate • Placed on Special Order Calendar, 02/27/12
    2/27/2012 Senate • Placed on Special Order Calendar, 02/28/12
    2/28/2012 Senate • Read 2nd time -SJ 697
    • Placed on 3rd reading
    2/29/2012 Senate • Read 3rd time -SJ 717
    • CS passed; YEAS 39 NAYS 0 -SJ 718
    3/1/2012 House • In Messages
    3/5/2012 House • Referred to Calendar -HJ 1104
    • Placed on Special Order Calendar, 03/06/12
    • Received -HJ 1104
    3/6/2012 House • Read 2nd time -HJ 1116
    • Placed on 3rd reading
    3/7/2012 House • Read 3rd time -HJ 1159
    • CS passed; YEAS 116 NAYS 0 -HJ 1159
    3/7/2012 Senate • Ordered enrolled -SJ 958
    3/30/2012 • Signed by Officers and presented to Governor
    4/6/2012 • Approved by Governor
    4/7/2012 • Chapter No. 2012-49

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  • CS/SB 1050, Enrolled (Current Bill Version) Posted 3/7/2012 at 10:56 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 823 (c1) Florida Uniform Principal and Income Act McBurney Similar Last Action: 3/6/2012 H Laid on Table, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49) -HJ 1137
    Location: Laid on Table     		Track This Bill
    S 978 (c1) Florida Uniform Principal and Income Act Fasano Similar Last Action: 3/9/2012 S Died in Banking and Insurance, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49)
    Location: In committee/council (BI)     		Track This Bill
    H 505 (c2) Mortgages Bernard Compare Last Action: 3/6/2012 H Laid on Table, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49) -HJ 1137
    Location: Laid on Table     		Track This Bill

    Citations - Statutes (32)

    Citation Catchline Location in Bill Location In Bill Help
    701.04 Cancellation of mortgages, liens, and judgments. Page 2 (pdf)
    738.102 Definitions. Page 5 (pdf)
    738.103 Fiduciary duties; general principles. Page 6 (pdf)
    738.104 Trustee’s power to adjust. Page 6 (pdf)
    738.1041 Total return unitrust. Page 7 (pdf)
    738.105 Judicial control of discretionary powers. Page 17 (pdf)
    738.201 Determination and distribution of net income. Page 19 (pdf)
    738.202 Distribution to residuary and remainder beneficiaries. Page 20 (pdf)
    738.301 When right to income begins and ends. Page 23 (pdf)
    738.302 Apportionment of receipts and disbursements when decedent dies or income interest begins. Page 23 (pdf)
    738.303 Apportionment when income interest ends. Page 24 (pdf)
    738.401 Character of receipts. Page 25 (pdf)
    738.402 Distribution from trust or estate. Page 32 (pdf)
    738.403 Business and other activities conducted by trustee. Page 32 (pdf)
    738.501 Principal receipts. Page 34 (pdf)
    738.502 Rental property. Page 35 (pdf)
    738.503 Obligation to pay money. Page 35 (pdf)
    738.504 Insurance policies and similar contracts. Page 36 (pdf)
    738.601 Insubstantial allocations not required. Page 37 (pdf)
    738.602 Payments from deferred compensation plans, annuities, and retirement plans or accounts. Page 37 (pdf)
    738.603 Liquidating asset. Page 41 (pdf)
    738.604 Minerals, water, and other natural resources. Page 42 (pdf)
    738.605 Timber. Page 43 (pdf)
    738.606 Property not productive of income. Page 44 (pdf)
    738.607 Derivatives and options. Page 45 (pdf)
    738.608 Asset-backed securities. Page 46 (pdf)
    738.701 Disbursements from income. Page 46 (pdf)
    738.702 Disbursements from principal. Page 47 (pdf)
    738.703 Transfers from income to principal for depreciation. Page 48 (pdf)
    738.704 Transfers from income to reimburse principal. Page 49 (pdf)
    738.705 Income taxes. Page 49 (pdf)
    738.801 Application with respect to apportionment of expenses; improvements. Page 51 (pdf)

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  • CS/SB 1050, Committee Substitute 1 Posted 2/8/2012 at 4:02 PM

    Bill Text:   Web Page | PDF
    Analyses:   Judiciary (Pre-Meeting) 2/15/2012 (pdf)
    Judiciary (Post-Meeting) 2/16/2012 (pdf)

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 823 (c1) Florida Uniform Principal and Income Act McBurney Similar Last Action: 3/6/2012 H Laid on Table, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49) -HJ 1137
    Location: Laid on Table     		Track This Bill
    S 978 (c1) Florida Uniform Principal and Income Act Fasano Similar Last Action: 3/9/2012 S Died in Banking and Insurance, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49)
    Location: In committee/council (BI)     		Track This Bill
    H 505 (c2) Mortgages Bernard Compare Last Action: 3/6/2012 H Laid on Table, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49) -HJ 1137
    Location: Laid on Table     		Track This Bill

    Committee Votes (1)

    Date Committee Result
    2/16/2012 10:30 AM Judiciary 7 Yeas - 0 Nays

    Floor Votes (2)

    Date Chamber Result
    2/29/2012 10:34 AM Senate 39 Yeas - 0 Nays
    3/7/2012 3:15 PM House 116 Yeas - 0 Nays

    Citations - Statutes (32)

    Citation Catchline Location in Bill Location In Bill Help
    701.04 Cancellation of mortgages, liens, and judgments. Page 2 (pdf)
    738.102 Definitions. Page 5 (pdf)
    738.103 Fiduciary duties; general principles. Page 6 (pdf)
    738.104 Trustee’s power to adjust. Page 6 (pdf)
    738.1041 Total return unitrust. Page 7 (pdf)
    738.105 Judicial control of discretionary powers. Page 17 (pdf)
    738.201 Determination and distribution of net income. Page 19 (pdf)
    738.202 Distribution to residuary and remainder beneficiaries. Page 20 (pdf)
    738.301 When right to income begins and ends. Page 23 (pdf)
    738.302 Apportionment of receipts and disbursements when decedent dies or income interest begins. Page 23 (pdf)
    738.303 Apportionment when income interest ends. Page 24 (pdf)
    738.401 Character of receipts. Page 25 (pdf)
    738.402 Distribution from trust or estate. Page 32 (pdf)
    738.403 Business and other activities conducted by trustee. Page 32 (pdf)
    738.501 Principal receipts. Page 34 (pdf)
    738.502 Rental property. Page 35 (pdf)
    738.503 Obligation to pay money. Page 35 (pdf)
    738.504 Insurance policies and similar contracts. Page 36 (pdf)
    738.601 Insubstantial allocations not required. Page 37 (pdf)
    738.602 Payments from deferred compensation plans, annuities, and retirement plans or accounts. Page 37 (pdf)
    738.603 Liquidating asset. Page 41 (pdf)
    738.604 Minerals, water, and other natural resources. Page 42 (pdf)
    738.605 Timber. Page 43 (pdf)
    738.606 Property not productive of income. Page 44 (pdf)
    738.607 Derivatives and options. Page 45 (pdf)
    738.608 Asset-backed securities. Page 46 (pdf)
    738.701 Disbursements from income. Page 46 (pdf)
    738.702 Disbursements from principal. Page 47 (pdf)
    738.703 Transfers from income to principal for depreciation. Page 48 (pdf)
    738.704 Transfers from income to reimburse principal. Page 49 (pdf)
    738.705 Income taxes. Page 49 (pdf)
    738.801 Application with respect to apportionment of expenses; improvements. Page 51 (pdf)

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  • SB 1050, Original Filed Version Posted 11/21/2011 at 1:40 PM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 2/6/2012 (pdf)
    Banking and Insurance (Post-Meeting) 2/8/2012 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 505 (c2) Mortgages Bernard Compare Last Action: 3/6/2012 H Laid on Table, companion bill(s) passed, see CS/SB 1050 (Ch. 2012-49) -HJ 1137
    Location: Laid on Table     		Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    536194 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Banking and Insurance
    (Negron)     		2/7/2012
    7:56 AM
    (Late Filed)     		Replaced by Committee Substitute
    2/7/2012     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    2/7/2012 1:30 PM Banking and Insurance 10 Yeas - 0 Nays

    Citations - Statutes (1)

    Citation Catchline Location in Bill Location In Bill Help
    701.04 Cancellation of mortgages, liens, and judgments. Page 1 (pdf)

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