hb0299s1.sfam.07 Converted WP Floor Amendments

1st Sub. H.B. 299
TRUST LAW AMENDMENTS

senate floor Amendments

Amendment 7 March 5, 2003 10:08

Senator John L. Valentine proposes the following amendments:

1.    Page 5, Line 131
    House Floor Amendments
    2-28-2003:    Delete line 131

2.    Page 5, Line 135
    House Floor Amendments
    2-28-2003:    Delete line 135

3.    Page 5, Line 137
    House Floor Amendments
    2-28-2003:    Delete "real or"

        Renumber Subsection (1) accordingly.
4.    Page 5, Line 137
    House Floor Amendments
    2-28-2003:    After line 137, insert:
        "(c) This Subsection (1) does not apply to any interest in real property."

5.    Page 9, Line 257:    After line 257, insert:
        "(h) "Irrevocable trust" means a trust in which the settlor may not revoke or terminate all or part of the trust without the consent of a person who has a substantial beneficial interest in the trust and the interest would be adversely affected by the exercise of the settlor's power to revoke or terminate all or part of the trust."

        Renumber the remaining subsections accordingly.

6.    Page 11, Line 333a
    House Floor Amendments
    2-28-2003:    After "Income in" delete "a" and insert "an irrevocable"

7.    Page 11a, Line 333i
    House Floor Amendments
    2-28-2003:    After "(ii)" insert "non-"

8.    Page 27, Line 831:    At the end of the line, delete "If"

9.    Page 28, Lines 832 - 833:    Delete lines 832 and 833

10.    Page 28, Line 834:    Delete "asset protection trust."

11.    Page 29, Line 867
    House Floor Amendments
    2-28-2003:    After "(A)" insert "is"

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