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Georgia General Assembly > Legislation
2019-2020 Regular Session - SB 186
Trusts; qualified self-settled spendthrift trusts; establish
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First Reader Summary
A BILL to be entitled an Act to amend Chapter 12 of Title 53 of the O.C.G.A., relating to trusts, so as to establish qualified self-settled spendthrift trusts; to provide for exceptions for spendthrift provisions of trusts which are not within qualified self-settled spendthrift trusts; to provide for claims by creditors for such trusts; to provide for the creation of such trusts; to provide for transfers to such trusts; to provide for vacancies of trustees; to provide for standards for such trusts to be considered nonrevocable; to provide for claims for relief; to amend Part 4 of Article 9 of Title 11 of the O.C.G.A., relating to rights of third parties to secured transactions, so as to exclude qualified self-settled spendthrift trusts from restrictions on assignment; to provide for related matters; to repeal conflicting laws; and for other purposes.
Status History
Mar/11/2019 - House Second Readers
Mar/08/2019 - House First Readers
Mar/07/2019 - Senate Passed/Adopted By Substitute
Mar/07/2019 - Senate Third Read
Mar/05/2019 - Senate Read Second Time
Mar/04/2019 - Senate Committee Favorably Reported By Substitute
Feb/26/2019 - Senate Read and Referred
Feb/25/2019 - Senate Hopper
Mar/07/2019 - Senate Vote #167Yea(36)Nay(18)NV(1)
Past Versions