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H0080................................by JUDICIARY, RULES AND ADMINISTRATION CONSERVATORS - Amends existing law to set forth requirements for reports submitted by conservators. 02/01 House intro - 1st rdg - to printing 02/02 Rpt prt - to Jud 02/16 Rpt out - rec d/p - to 2nd rdg 02/17 2nd rdg - to 3rd rdg 02/18 3rd rdg - PASSED - 69-0-1 AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer, Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Bradford, Cannon, Chadderdon, Clark, Collins, Crow, Deal, Denney, Edmunson, Ellsworth, Eskridge, Field(18), Field(23), Garrett, Hart, Harwood, Henbest, Henderson, Jaquet, Jones, Kemp, Lake, LeFavour, Loertscher, Martinez, Mathews, McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen, Nonini, Pasley-Stuart, Pence, Raybould, Ring, Ringo, Roberts, Rusche, Rydalch, Sali, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley, Skippen, Smith(30), Smith(24), Smylie(Telleria), Snodgrass, Stevenson, Trail, Wills, Wood NAYS -- None Absent and excused -- Mr. Speaker Floor Sponsor - Clark Title apvd - to Senate 02/21 Senate intro - 1st rdg - to Jud 03/03 Rpt out - rec d/p - to 2nd rdg 03/04 2nd rdg - to 3rd rdg 03/07 3rd rdg - PASSED - 34-0-1 AYES -- Andreason, Brandt, Broadsword, Bunderson, Burkett, Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis, Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough, Langhorst, Little, Lodge, Malepeai, Marley, McGee, McKenzie, Noble, Pearce, Richardson, Schroeder, Stegner, Stennett, Sweet, Werk NAYS -- None Absent and excused -- Williams Floor Sponsor - Jorgenson Title apvd - to House 03/08 To enrol 03/09 Rpt enrol - Sp signed 03/10 Pres signed 03/11 To Governor 03/15 Governor signed Session Law Chapter 50 Effective: 07/01/05
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-eighth Legislature First Regular Session - 2005IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 80 BY JUDICIARY, RULES AND ADMINISTRATION COMMITTEE 1 AN ACT 2 RELATING TO CONSERVATORS; AMENDING SECTION 15-5-419, IDAHO CODE, TO SET FORTH 3 REQUIREMENTS FOR REPORTS SUBMITTED BY CONSERVATORS. 4 Be It Enacted by the Legislature of the State of Idaho: 5 SECTION 1. That Section 15-5-419, Idaho Code, be, and the same is hereby 6 amended to read as follows: 7 15-5-419. ACCOUNTS AND REPORTS. (a) Every conservator or guardian shall 8 submit a written annual report to the court concerning the status of the ward 9 and of the ward's estate that has been under the guardian's or conservator's 10 control. The guardian or conservator shall also be required to provide copies 11 of the report to all persons listed by the court as having an interest in 12 receiving copies of the report. The court may order more frequent reports by 13 its own ruling or pursuant to a petition of any person interested in the 14 ward's welfare. Every conservator must account annually, or as otherwise 15 directed by the court, and upon his resignation or removal. On termination of 16 the protected person's minority or disability, a conservator shall account to 17 the court and shall account to the former protected person or his personal 18 representative. Subject to appeal or vacation within the time permitted, an 19 order, made upon notice and hearing, allowing an intermediate account of a 20 conservator, adjudicates as to his liabilities concerning the matters consid- 21 ered in connection therewith; and an order, made upon notice and hearing, 22 allowing a final account adjudicates as to all previously unsettled liabili- 23 ties of the conservator to the protected person or his successors relating to 24 the conservatorship. In connection with any account, the court may require a 25 conservator to submit to a physical check of the estate in his control, to be 26 made in any manner the court may specify. 27 (b) Except as otherwise provided in subsection (c) of this section, every 28 report submitted by a conservator shall cover a specific time period, which 29 period shall be stated explicitly in the report. The report shall cover all of 30 the estate of the protected person which is under the control of the conserva- 31 tor. Supporting documentation for items in the report shall either accompany 32 such report or, if such supporting documentation is voluminous, or expensive 33 to provide, or contains sensitive or private information, or another good rea- 34 son exists for not providing such supporting documentation with the report, 35 the report shall state the reason that the supporting documentation is not 36 provided and that the supporting documentation is held by, or is reasonably 37 available to, the conservator and will be produced upon request. The report 38 shall contain, to the extent reasonably available to the conservator, at least 39 the following: 40 (1) A reasonably detailed listing of the starting inventory of the estate 41 of the protected person at the beginning of the time period for which the 42 report is made. Every such inventory item shall be specifically identi- 43 fied; provided however, that items may be reported in categories, such as 2 1 miscellaneous personal property, rather than individually, and valued by 2 category, when reasonable. The fair market value of each such item or cat- 3 egory shall be stated in such starting inventory and the method of deter- 4 mining such fair market value shall also be stated. In the case of an item 5 or category which is secured by an encumbrance or debt of any nature, the 6 encumbrance or debt shall be listed separately from the item or category 7 and shall be specifically identified, including the items or category 8 secured by the encumbrance or debt, the amount of the encumbrance or debt 9 as of the date of the starting inventory, the holder of such debt or 10 encumbrance, the family relationship of such holder to the protected per- 11 son if actually known to the conservator, and any other reasonably rele- 12 vant information; 13 (2) A reasonably detailed listing, for the covered time period, of the 14 receipts, of any nature, by the estate of the protected person; provided 15 however, that the receipts may be reported in categories, such as interest 16 income, social security payments or rental receipts, if reasonable. Such 17 listing shall reasonably identify each such receipt or category, including 18 the source of such receipt or category and the exact amount or fair market 19 value thereof, and the method of determining such amount or fair market 20 value; 21 (3) A reasonably detailed listing, for the covered time period, of all 22 payments or expenses, of any nature, by the estate of the protected per- 23 son; provided however, that the payments or expenses may be reported in 24 categories, such as rental or house payments, medical expenses or trans- 25 portation expenses, if reasonable. Each such payment or category shall be 26 set forth in reasonable detail, including the amount thereof, to whom the 27 payment was made, the method or frequency of making such payment if not 28 reasonably indicated by the item or category, the consideration for such 29 payment if not reasonably indicated by the item or category, the family 30 relationship of the receiver of such payment to the protected person if 31 actually known to the conservator, the time period covered by such payment 32 if relevant, and any other information reasonably relevant to such pay- 33 ment; 34 (4) A reasonably detailed listing of the ending inventory of the estate 35 of the protected person at the end of the time period for which the report 36 is made, in the same manner as described above for the starting inventory; 37 (5) If the report does not, on its face, balance exactly the starting and 38 ending inventories with the receipts and payments of the estate of the 39 protected person, a reasonably detailed analysis and statement of the rea- 40 sons for such imbalance, and a reasonably detailed listing of the correct- 41 ing entries necessary to balance such report, such as unrealized gains or 42 losses on assets of the estate, shall be made as part of the report; and 43 (6) Any other information, of any nature, which is reasonably relevant to 44 the actions of the conservator during the time period covered by the 45 report, which shall be submitted as part of the report or shall accompany 46 such report. 47 (c) Any report prepared by a federally or state chartered financial 48 institution using a fiduciary accounting system that produces statements con- 49 taining asset positions, receipts, and disbursements shall be deemed to sat- 50 isfy the reporting requirements set forth in subsection (b) of this section. 51 The court may order any such report filed by a federally or state chartered 52 financial institution to be supplemented or may order that any information 53 reasonably relevant to the report be produced. 54 (d) If a conservator or guardian: 55 (1) Makes a substantial misstatement on filings of any required annual 3 1 reports; or 2 (2) Is guilty of gross impropriety in handling the property of the ward; 3 or 4 (3) Willfully fails to file the report required by this section, after 5 receiving written notice of the failure to file and after a grace period 6 of two (2) months have elapsed; 7 then the court may impose a fine in an amount not to exceed five thousand dol- 8 lars ($5,000) on the conservator or guardian. The court may appoint a guardian 9 ad litem for the ward on its own motion or on the motion of any interested 10 party to represent the ward in any proceedings hereunder and may also appoint 11 appropriate persons or entities to make investigation of the actions of the 12 conservator or guardian. The court may also order restitution of funds misap- 13 propriated from the estate of a ward and may impose a surcharge upon the con- 14 servator or guardian responsible for such misappropriation for all damages, 15 costs and other appropriate sums determined by the court, in addition to any 16 fine imposed including, but not limited to, any fees and costs of the guardian 17 ad litem. The court may take any other actions which are in the best interests 18 of the ward and the protection of the assets of the ward. Any sums awarded 19 hereunder shall be paid by the conservator or guardian and may not be paid by 20 the estate of the ward. The court may enter judgment against a conservator or 21 guardian for any or all of the foregoing, and may impose judgment against any 22 bond of such conservator or guardian.
STATEMENT OF PURPOSE RS 14725C1 This bill gives definition to the required contents of a report by a conservator. Existing law is silent as to such contents. The bill allows documents supporting the figures in the report to either be submitted with the report or made available only on request. The bill also allows federally and state chartered financial institutions to submit the product of their fiduciary reporting systems so that the contents of that product do not have to be redone into a report form. The court may, as to such fiduciary reporting systems, request supplementation of the report if needed. In its essence, the list of requirements will also be a guide for non-professional conservators and for courts. It will also help to standardize to the extent possible how reports are structured, which will simplify monitoring of such reports. FISCAL IMPACT This bill will have no fiscal impact. Contact Name: Robert L. Aldridge Phone: Office: (208) 336-9880 Cell: (208) 631-2481 STATEMENT OF PURPOSE/FISCAL NOTE H 80