SB 196 – Allows private trust companies to be examined every thirty-six months and makes alternative dispute provisions in trusts enforceable

• Sponsor: Keaveny
• LR Number: 0214S.02I
• Committee: Judiciary and Civil and Criminal Jurisprudence
• Last Action: 2/25/2013 - Hearing Conducted S Judiciary and Civil and Criminal Jurisprudence Committee
• Effective Date: August 28, 2013

Current Bill Summary

SB 196 - Currently, trust companies, including private trust companies, are examined by the Director of Finance every eighteen months. This act provides that private trust companies will be examined at least once every thirty-six months.

The act also provides that trust provisions requiring mediation or arbitration of disputes concerning the trust are enforceable.

This act is similar to provisions contained in SCS/HB 329 (2013).

JESSICA BAKER