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Georgia General Assembly > Legislation
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2005-2006 Regular Session - HB 406
Trusts; allocation of principal and income; amend provisions
Sponsored By
Sponsored In Senate By
First Reader Summary
A BILL to be entitled an Act to amend Article 10 of Chapter 12 of Title 53 of the O.C.G.A., relating to allocation of principal and income, so as to change provisions relating to the duty of the trustee as to receipts and expenditures; to provide for general principles relating to the allocation of principal and income; to provide for the discretionary power of a trustee to adjust the trust receipts between principal and income; to provide for requirements and prohibitions in adjustments; to provide for the criteria and procedure for conversion to a unitrust; to provide for judicially approved conversion; to provide for requirements and prohibitions in conversions; to provide for remedies; to correct a cross-reference; to amend Article 9 of Chapter 12 of Title 53 of the O.C.G.A., relating to trustees´ duties and liabilities; to amend Code Section 15-9-127 of the O.C.G.A.; to provide for related matters; to repeal conflicting laws; and for other purposes.
Status History
Jul/01/2005 - Effective Date
May/02/2005 - Act 109
May/02/2005 - House Date Signed by Governor
Apr/05/2005 - House Sent to Governor
Mar/24/2005 - Senate Passed/Adopted
Mar/24/2005 - Senate Third Read
Mar/21/2005 - Senate Read Second Time
Mar/17/2005 - Senate Committee Favorably Reported
Mar/03/2005 - Senate Read and Referred
Mar/02/2005 - House Passed/Adopted By Substitute
Mar/02/2005 - House Third Readers
Feb/17/2005 - House Committee Favorably Reported By Substitute
Feb/10/2005 - House Second Readers
Feb/09/2005 - House First Readers
Feb/08/2005 - House Hopper
Mar/24/2005 - Senate Vote #403Yea(42)Nay(1)NV(4)
Mar/02/2005 - House Vote #136Yea(152)Nay(4)NV(19)
Past Versions