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Glossary of Legislative Terms

CS/HB 743: Trusts [EPCC]

GENERAL BILL by Safety & Security Council ; Hukill ; (CO-INTRODUCERS) Seiler ; Ambler

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: 6/15/2007 - Approved by Governor; Chapter No. 2007-153
Bill Text: Web Page | PDF

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  • Bill History

    Date Chamber Action
    2/7/2007 House • Filed
    2/14/2007 House • Referred to Safety & Security Council
    2/21/2007 House • Referred to Constitution & Civil Law (SS) by Safety & Security Council
    3/5/2007 House • On Committee agenda-- Constitution & Civil Law (SS), 03/07/07, 9:00 am, 12-H
    3/6/2007 House • Introduced, referred to Safety & Security Council -HJ 00056; Referred to Constitution & Civil Law (SS) by Safety & Security Council -HJ 00125; On Committee agenda-- Constitution & Civil Law (SS), 03/07/07, 9:00 am, 12-H
    3/7/2007 House • Favorable with 1 amendment(s) by Constitution & Civil Law (SS); YEAS 6 NAYS 0 -HJ 00178; Now in Safety & Security Council -HJ 00178
    3/19/2007 House • On Council agenda-- Safety & Security Council, 03/21/07, 10:15 am, Reed Hall
    3/21/2007 House • CS by- Safety & Security Council; YEAS 15 NAYS 0 -HJ 00271
    3/26/2007 House • CS read 1st time on 03/26/07 -HJ 00268; CS filed; Placed on Calendar -HJ 00273
    4/12/2007 House • Placed on Special Order Calendar
    4/17/2007 House • Placed on Special Order Calendar
    4/18/2007 House • Placed on Special Order Calendar -HJ 00479
    4/19/2007 House • Placed on Special Order Calendar -HJ 00510; Read 2nd time -HJ 00539; Amendment(s) adopted -HJ 00539
    4/24/2007 House • Read 3rd time -HJ 00592; Amendment(s) adopted -HJ 00593; CS passed as amended; YEAS 112 NAYS 0 -HJ 00593
    4/24/2007 Senate • In Messages
    4/26/2007 Senate • Received, referred to Banking and Insurance; Judiciary -SJ 00623
    4/30/2007 Senate • Withdrawn from Banking and Insurance; Judiciary -SJ 00730; Substituted for CS/CS/SB 2218 -SJ 00730; Read 2nd time -SJ 00730
    5/1/2007 Senate • Read 3rd time -SJ 00745; CS passed; YEAS 39 NAYS 0 -SJ 00745
    5/1/2007 House • Ordered enrolled -HJ 00945
    6/5/2007 • Signed by Officers and presented to Governor
    6/15/2007 • Approved by Governor; Chapter No. 2007-153

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  • CS/HB 743, Enrolled (Current Bill Version) Posted 5/2/2007 at 3:57 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location
    S 2218 (c2) Trusts [EPCC] Posey Identical Last Action: 4/30/2007 S 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
    Location:
    H 1183 (c1) Administration of Trusts Hooper Compare 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 Compare 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:

    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/HB 743, Engrossed 2 Posted 4/24/2007 at 10:50 AM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Floor Votes (1)

    Date Chamber Result
    5/1/2007 11:48 AM Senate 39 Yeas - 0 Nays

    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/HB 743, Engrossed 1 Posted 4/19/2007 at 4:21 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Floor Amendments (1)

    Amendment Sponsor Filed Last Floor Action Format
    578053 - Amendment
    		Hukill 4/23/2007
    6:05 PM     		Web Page
    PDF

    Floor Votes (1)

    Date Chamber Result
    4/24/2007 9:50 AM House 112 Yeas - 0 Nays

    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/HB 743, Committee Substitute 1 Posted 3/26/2007 at 11:57 AM

    Bill Text:   Web Page | PDF
    Analyses:   Safety & Security Council (Post-Meeting) (pdf)

    Floor Amendments (1)

    Amendment Sponsor Filed Last Floor Action Format
    571027 - Amendment
    		Hukill 4/19/2007
    9:53 AM     		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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  • HB 743, Original Filed Version Posted 2/7/2007 at 11:46 AM

    Bill Text:   Web Page | PDF
    Analyses:   Committee on Constitution & Civil Law (Post-Meeting) (pdf)
    Committee on Constitution & Civil Law (Post-Meeting) (pdf)
    Safety & Security Council (Post-Meeting) (pdf)

    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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