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S1356................................................by JUDICIARY AND RULES
TRANSFERS ON TRUST - Amends existing law to redesignate the section number
of the statute providing restrictions on transfers in trust.
02/03 Senate intro - 1st rdg - to printing
02/04 Rpt prt - to Jud
02/17 Rpt out - rec d/p - to 2nd rdg
02/18 2nd rdg - to 3rd rdg
02/25 3rd rdg - PASSED - 33-0-2
AYES--Andreason, Boatright, Bunderson, Burtenshaw, Cameron, Crow,
Darrington, Deide, Dunklin, Frasure, Geddes, Hawkins, Ingram, Ipsen,
Keough, King-Barrutia, Lee, McLaughlin, Noh, Parry, Richardson,
Riggs, Risch, Sandy, Schroeder, Sorensen, Stegner, Stennett, Thorne,
Walton, Wheeler, Whitworth, Williams
NAYS--None
Absent and excused--Danielson, Davis
Floor Sponsor - Darrington
Title apvd - to House
02/28 House intro - 1st rdg - to Jud
03/16 Rpt out - rec d/p - to 2nd rdg
03/17 2nd rdg - to 3rd rdg
03/29 3rd rdg - PASSED - 67-0-3
AYES -- Alltus, Barraclough, Barrett, Bell, Bieter, Black, Boe,
Bruneel, Callister, Campbell, Chase, Cheirrett, Clark, Crow, Cuddy,
Deal, Denney, Ellsworth, Field(13), Field(20), Gagner, Gould, Hadley,
Hammond, Hansen(23), Hansen(29), Henbest, Hornbeck, Jaquet, Jones,
Judd, Kellogg, Kempton, Kendell, Kunz, Lake, Linford, Loertscher,
Mader, Marley, McKague, Meyer, Montgomery, Mortensen, Moss, Pearce,
Pischner, Pomeroy, Reynolds, Ridinger, Ringo, Robison, Sali,
Schaefer, Sellman, Shepherd, Smith, Smylie, Stevenson, Stoicheff,
Taylor, Tilman, Trail, Wheeler, Wood, Zimmermann, Mr Speaker
NAYS -- None
Absent and excused -- Geddes, Moyle, Stone
Floor Sponsor - Hammond
Title apvd - to Senate
03/30 To enrol - rpt enrol - Pres signed
03/31 Sp signed
04/03 To Governor
04/04 Governor signed
Session Law Chapter 178
Effective: 07/01/00
S1356
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-fifth Legislature Second Regular Session - 2000
IN THE SENATE
SENATE BILL NO. 1356
BY JUDICIARY AND RULES COMMITTEE
1 AN ACT
2 RELATING TO TRUSTS; AMENDING SECTION 15-5-508, IDAHO CODE, TO REDESIGNATE THE
3 SECTION; AND PROVIDING AN EFFECTIVE DATE.
4 Be It Enacted by the Legislature of the State of Idaho:
5 SECTION 1. That Section 15-5-508, Idaho Code, be, and the same is hereby
6 amended to read as follows:
7 15-5-5087-502. RESTRICTIONS ON TRANSFERS IN TRUST. A trust instrument may
8 provide that a beneficiary's interest in the income and/or principal of the
9 trust is not subject to voluntary or involuntary transfer. Such provision
10 shall be valid and enforceable, and the beneficiary's interest shall not be
11 subject to voluntary or involuntary transfer of any nature, and shall not be
12 subject to enforcement of a money judgment, subject to any exceptions other-
13 wise allowed by law. If a trust gives the trustee discretion over the payment
14 of either income or principal of a trust, or both, nothing in this section
15 shall be deemed to affect or limit that discretion in any manner. This sec-
16 tion shall not be deemed to apply to any trust distributions after actual
17 receipt by the beneficiary. Validity of a restraint on transfer in a trust
18 document shall not require specific reference to this section or any specific
19 language. This section shall apply both to trust instruments in existence on
20 July 1, 1995, as well as trust instruments established thereafter.
21 SECTION 2. This act shall be in full force and effect on and after July
22 1, 2000.
STATEMENT OF PURPOSE
RS 09734
The original bill was passed several years ago. However, the code section created for the new law
was in an inappropriate portion of the Probate Code, relating to guardianships. This bill only
corrects the code section to be in a logical portion of the Probate Code, relating to trusts.
FISCAL NOTE
This bill should have no effect an revenues or expenditures.
CONTACT: Robert L. Aldridge
1209 North Eighth Street
Boise, Idaho 83702-4297
Telephone: office: (208) 336-9880 home: (208) 888-4668
Fax: (208) 336-9882
e-mail: roberta@micron.net
STATEMENT OF PURPOSE/FISCAL NOTE S 1356