Subcommittee clears technical fix to Uniform Trust Code to broaden who may serve as trustee
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Summary
HB 1605, a technical change to the Uniform Trust Code to expand the definition of qualified trustees, passed the subcommittee 8-0. The sponsor and bill proponents described it as a clerical/technical correction to allow additional qualified entities to serve as trustees.
The subcommittee moved HB 1605, a technical amendment to the Uniform Trust Code, to the full committee by an 8-0 vote.
Delegate Carlson, sponsor of HB 1605, described the bill as a narrowly drawn technical correction to definitions in the code that would allow more qualified entities to serve as trustees of self-settled spendthrift trusts. An expert in estate and trust law, identified in committee as Catherine Grama, joined the committee to answer technical questions.
Carlson and the witnesses characterized the change as correcting an editorial or drafting error so that charitable organizations and other qualified entities could serve in trustee roles expressly contemplated by the Uniform Trust Code. No members indicated opposition during debate, and the clerk recorded an 8-0 report vote.
Votes at a glance HB 1605 — Author: Delegate Carlson — Motion to report passed by subcommittee: 8 yes, 0 no. Outcome: advanced to full committee.
What happens next HB 1605 will proceed to the full committee. Sponsors described the bill as technical; committee members asked no substantive policy questions on the record.