SB213 HFAT Shott 3-6

Fisher 3919

Delegate Shott moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. Senate Bill No. 213 -- “A Bill to amend and reenact §44D-1-103, §44D-1-105, and §44D-1-108 of the Code of West Virginia, 1931, as amended; to amend and reenact §44D-6-603 of said code; to amend and reenact §44D-7-703 of said code; to amend and reenact §44D-8-808 of said code; and to amend said code by adding thereto a new article, designated §44D-8A-801, §44D-8A-802, §44D-8A-803, §44D-8A-804, §44D-8A-805, §44D-8A-806, §44D-8A-807, §44D-8A-808, §44D-8A-809, §44D-8A-810, §44D-8A-811, §44D-8A-812, §44D-8A-813, §44D-8A-814, §44D-8A-815, §44D-8A-816, and §44D-8A-817, all relating to the administration of trusts; providing definitions; establishing default and mandatory rules; establishing when terms of a trust designating the principal place of administration are valid; establishing grantor’s powers and powers of withdrawal; enacting the West Virginia Uniform Directed Trust Act; specifying applicability; setting forth exclusions; establishing powers, duties and liabilities of a trust director; providing limitations on trust director power; establishing duties and liabilities of a directed trustee; establishing duty of trustee to provide certain information to a trust director or trustee; providing that a trust may relieve a cotrustee from duty and liability with respect to another cotrustee’s exercise or nonexercised of power; providing limitations on actions against a trust director; establishing defenses in actions against a trust director; establishing person jurisdiction of West Virginia courts over a trust director; providing that certain statutory rules apply to a trust director; and providing effective date.”

Adopted

Rejected