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S1333................................................by JUDICIARY AND RULES
TRUSTEES - Adds to existing law to provide for the appointment of a trustee
and issuance of letters of trusteeship.
01/26 Senate intro - 1st rdg - to printing
01/27 Rpt prt - to Jud
02/09 Rpt out - rec d/p - to 2nd rdg
02/10 2nd rdg - to 3rd rdg
02/17 3rd rdg - PASSED - 34-0-1
AYES--Andreason, Boatright, Branch, Bunderson, Burtenshaw, Cameron,
Crow, Danielson, Darrington, Deide, Dunklin, Frasure, Geddes, Hansen,
Hawkins, Ingram, Ipsen, Keough, King, Lee, McLaughlin, Noh, Parry,
Richardson, Riggs, Risch, Sandy, Schroeder, Stennett, Sweeney,
Thorne, Twiggs, Wheeler, Whitworth
NAYS--None
Absent and excused--Sorensen
Floor Sponsor - Riggs
Title apvd - to House
02/18 House intro - 1st rdg - to Jud
03/06 Rpt out - rec d/p - to 2nd rdg
03/09 2nd rdg - to 3rd rdg
03/12 3rd rdg - PASSED - 63-1-6
AYES -- Barraclough, Barrett, Bell, Bieter, Bivens, Black(15),
Black(23), Boe, Bruneel, Callister, Campbell, Chase, Clark, Crane,
Cuddy, Deal, Denney, Ellsworth, Field(13), Field(20), Gagner, Geddes,
Gould, Hadley, Henbest, Hornbeck, Jaquet, Jones(22), Jones(20), Judd,
Kellogg, Kempton, Kendell, Kjellander, Kunz, Lake, Linford,
Loertscher, Mader, Marley, McKague, Meyer, Miller, Mortensen,
Pischner, Pomeroy, Reynolds, Richman, Robison, Sali, Schaefer,
Stevenson, Stoicheff, Stone, Stubbs, Taylor, Tilman, Trail, Watson,
Wheeler, Wood, Zimmermann, Mr Speaker
NAYS -- Alltus
Absent and excused -- Crow, Hansen, Jones(9), Newcomb, Ridinger,
Tippets
Floor Sponsor - Judd
Title apvd - to Senate
03/13 To enrol
03/16 Rpt enrol - Pres signed
03/16 Sp signed
03/17 To Governor
03/18 Governor signed
Session Law Chapter 80
Effective: 07/01/98
S1333|||| LEGISLATURE OF THE STATE OF IDAHO |||| Fifty-fourth Legislature Second Regular Session - 1998IN THE SENATE SENATE BILL NO. 1333 BY JUDICIARY AND RULES COMMITTEE 1 AN ACT 2 RELATING TO THE APPOINTMENT OF TRUSTEES AND ISSUANCE OF LETTERS OF TRUSTEE- 3 SHIP; AMENDING PART 4, CHAPTER 7, TITLE 15, IDAHO CODE, BY THE ADDITION OF 4 A NEW SECTION 15-7-403, IDAHO CODE, TO PROVIDE THAT, UPON APPLICATION, A 5 TRUSTEE MAY BE APPOINTED AND LETTERS OF TRUSTEESHIP ISSUED AND TO DESCRIBE 6 THE CONTENTS OF THE APPLICATION. 7 Be It Enacted by the Legislature of the State of Idaho: 8 SECTION 1. That Part 4, Chapter 7, Title 15, Idaho Code, be, and the same 9 is hereby amended by the addition thereto of a NEW SECTION , to be 10 known and designated as Section 15-7-403, Idaho Code, and to read as follows: 11 15-7-403. APPOINTMENT OF TRUSTEE AND LETTERS OF TRUSTEESHIP. Upon appli- 12 cation to the court in which the trust is registered in the state of Idaho, 13 and upon hearing after notice to all interested parties, the court may appoint 14 the trustee as such (or as successor trustee, if applicable). Upon filing of 15 an acceptance of the duties of the office of trustee by the trustee, contain- 16 ing the oath of the trustee to the effect that the trustee will perform the 17 duties of his office according to the law, letters of trusteeship shall be 18 issued, evidencing the authority of the trustee. Such letters may be recorded 19 in the office of the county recorder in any county in which property held by 20 the trust is located and, from the time of filing of such letters for record, 21 notice is imparted to all persons of the contents of such letters of trustee- 22 ship. The application to the court shall contain at least the following: 23 (1) A statement of the interest of the applicant in the matter, including 24 the priority of the person whose appointment is sought and a statement of the 25 names and addresses and priority for appointment of any other persons having a 26 prior or equal right to the appointment under law or the terms of the trust; 27 (2) A description of the trust; 28 (3) A statement identifying and indicating the address of any existing 29 trustee of the trust whose appointment has not been terminated; 30 (4) The name and address of the person or entity for whom appointment is 31 sought; 32 (5) A statement identifying and indicating the address of all current and 33 contingent beneficiaries of the trust, and the ages of any such beneficiaries 34 that are minors; 35 (6) A statement that a copy of the trust is either in the possession of 36 the court or accompanies the application, or that copies of portions of the 37 trust accompany the application showing: 38 (a) The grantor and original trustee of the trust, 39 (b) Any language regarding the appointment of an original or successor 40 trustee, including any limitations thereon, 41 (c) The signature page(s) of the trust, 42 (d) Any amendments to the trust which relate to the appointment of an 43 original or successor trustee, including any limitations thereon; 2 1 (7) A statement that, after the exercise of reasonable diligence, the 2 applicant is unaware of any instrument revoking the trust; 3 (8) If the application is for appointment of a successor trustee, a 4 statement of the method of termination of the appointment of the prior trustee 5 and the effective date thereof and that copies of any documents relating 6 thereto are in the possession of the court or accompany the application.
j
STATEMENT OF PURPOSE
Current Idaho law contains no express provisions for issuance
of letters of trusteeship, evidencing the power and authority
of the trustee, and any limitations thereon. Especially in the
case of successor trustees, this makes it difficult for the
trustee to convince others of the authority of the trustee to
act on behalf of the trust. This bill provides for such letters
and describes the application necessary to obtain such letters.
FISCAL NOTE
This bill should have no fiscal impact. It is possible that the
number of legal actions involving trustees would be lowered,
and that trusts would be run more efficiently, thereby reducing
general costs of the court system.CONTACT: Robert L. Aldridge 1209 North Eighth Street Boise,
Idaho 83702-4297 Telephone: (208) 336-9880 Fax: (208)
336-9882 e-mail:roberta@micron.net
STATEMENT OF PURPOSE/FISCAL NOTE
Bill No S1333