Introduced
by
To exempt personal property held in certain trusts from the law against "perpetuities.” "Perpetuities" is a legal doctrine intended to prevent assets from being tied-up in long-term family or "dynasty" trusts. However, the law has the effect of causing trusts to be set up in other states.
Referred to the Committee on Judiciary
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 104 to 4 (details)
Referred to the Committee on Judiciary
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 38 to 0 (details)
To exempt personal property held in certain trusts from the law against "perpetuities.” "Perpetuities" is a legal doctrine intended to prevent assets from being tied-up in long-term family or "dynasty" trusts. However, the law has the effect of causing trusts to be set up in other states.
