House Bill 1369

AN ACT TO CREATE THE MISSISSIPPI UNIFORM TRUST CODE; TO CREATE NEW SECTION 91-23-101, MISSISSIPPI CODE OF 1972, TO ENACT A SHORT TITLE; TO CREATE NEW SECTION 91-23-102, MISSISSIPPI CODE OF 1972, TO SPECIFY THE SCOPE OF THE ACT; TO CREATE NEW SECTION 91-23-103, MISSISSIPPI CODE OF 1972, TO ENACT DEFINITIONS; TO CREATE NEW SECTION 91-23-105, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE DUTIES AND POWERS OF TRUSTEE RELATIONS AMONG TRUSTEES AND THE RIGHTS AND INTERESTS OF A BENEFICIARY DEFAULT TO THE ACT IN ABSENCE OF EXPRESS PROVISION TO THE CONTRARY; TO CREATE NEW SECTION 91-23-301, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE REPRESENTATION OF ANOTHER PERSON UNDER THE ACT; TO CREATE NEW SECTION 91-23-304, MISSISSIPPI CODE OF 1972, TO ALLOW REPRESENTATION BY A PERSON HAVING A NEARLY IDENTICAL INTEREST; TO CREATE NEW SECTION 91-23-411, MISSISSIPPI CODE OF 1972, TO ALLOW MODIFICATION OR TERMINATION OF A NONCHARITABLE IRREVOCABLE TRUST BY CONSENT; TO CREATE NEW SECTION 91-23-414, MISSISSIPPI CODE OF 1972, TO ALLOW MODIFICATION OR TERMINATION OF AN UNECONOMIC TRUST; TO CREATE NEW SECTION 91-23-801, MISSISSIPPI CODE OF 1972, TO REQUIRE A TRUSTEE TO ACT IN GOOD FAITH; TO CREATE NEW SECTION 91-23-802, MISSISSIPPI CODE OF 1972, TO PRESCRIBE A TRUSTEE'S DUTY OF LOYALTY; TO CREATE NEW SECTION 91-23-803, MISSISSIPPI CODE OF 1972, TO REQUIRE A TRUSTEE'S IMPARTIALITY; TO CREATE NEW SECTION 91-23-804, MISSISSIPPI CODE OF 1972, TO REQUIRE PRUDENT ADMINISTRATION ON THE PART OF A TRUSTEE; TO CREATE NEW SECTION 91-23-805, MISSISSIPPI CODE OF 1972, TO LIMIT A TRUSTEE TO INCUR ONLY REASONABLE COSTS; TO CREATE NEW SECTION 91-23-806, MISSISSIPPI CODE OF 1972, TO REQUIRE A TRUSTEE TO USE ANY SPECIAL SKILLS HE MAY POSSESS; TO CREATE NEW SECTION 91-23-807, MISSISSIPPI CODE OF 1972, TO SPECIFY IN WHAT WAY A TRUSTEE MAY DELEGATE POWERS; TO CREATE NEW SECTION 91-23-808, MISSISSIPPI CODE OF 1972, TO PROVIDE IN WHAT WAY A TRUSTEE MAY BE DIRECTED; TO CREATE NEW SECTION 91-23-809, MISSISSIPPI CODE OF 1972, TO REQUIRE A TRUSTEE TO PROTECT TRUST PROPERTY; TO CREATE NEW SECTION 91-23-810, MISSISSIPPI CODE OF 1972, TO REQUIRE A TRUSTEE TO KEEP RECORDS; TO CREATE NEW SECTION 91-23-811, MISSISSIPPI CODE OF 1972, TO REQUIRE A TRUSTEE TO ENFORCE AND DEFEND CLAIMS AS APPROPRIATE; TO CREATE NEW SECTION 91-23-812, MISSISSIPPI CODE OF 1972, TO REQUIRE A TRUSTEE TO COLLECT TRUST PROPERTY; TO CREATE NEW SECTION 91-23-813, MISSISSIPPI CODE OF 1972, TO REQUIRE A TRUSTEE TO INFORM BENEFICIARIES AS APPROPRIATE; TO CREATE NEW SECTION 91-23-814, MISSISSIPPI CODE OF 1972, TO GRANT CERTAIN DISCRETIONARY POWERS TO TRUSTEES; TO CREATE NEW SECTION 91-23-815, MISSISSIPPI CODE OF 1972, TO SPECIFY A TRUSTEE'S GENERAL POWERS; TO CREATE NEW SECTION 91-23-816, MISSISSIPPI CODE OF 1972, TO SPECIFY A TRUSTEE'S SPECIFIC POWERS; TO CREATE NEW SECTION 91-23-817, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR DISTRIBUTION UPON TERMINATION; TO CREATE NEW SECTION 91-23-1001, MISSISSIPPI CODE OF 1972, TO PROVIDE REMEDIES FOR BREACH OF TRUST; TO CREATE NEW SECTION 91-23-1002, MISSISSIPPI CODE OF 1972, TO PROVIDE DAMAGES FOR BREACH OF TRUST; TO CREATE NEW SECTION 91-23-1003, MISSISSIPPI CODE OF 1972, TO PROVIDE DAMAGES IN ABSENCE OF BREACH; TO CREATE NEW SECTION 91-23-1004, MISSISSIPPI CODE OF 1972, TO ALLOW COURT TO AWARD ATTORNEY'S FEES AND COSTS IN CERTAIN CIRCUMSTANCES; TO CREATE NEW SECTION 91-23-1005, MISSISSIPPI CODE OF 1972, TO PRESCRIBE CERTAIN LIMITATIONS OF ACTION AGAINST A TRUSTEE; TO CREATE NEW SECTION 91-23-1006, MISSISSIPPI CODE OF 1972, TO IMMUNIZE A TRUSTEE ACTING IN REASONABLE RELIANCE ON THE TRUST DOCUMENT; TO CREATE NEW SECTION 91-23-1007, MISSISSIPPI CODE OF 1972, TO IMMUNIZE A TRUSTEE ACTING WITH REASONABLE CARE; TO CREATE NEW SECTION 91-23-1008, MISSISSIPPI CODE OF 1972, TO SPECIFY EXCULPATION OF A TRUSTEE; TO CREATE NEW SECTION 91-23-1009, MISSISSIPPI CODE OF 1972, TO IMMUNIZE A TRUSTEE ACTING WITH THE CONSENT OF A BENEFICIARY; TO CREATE NEW SECTION 91-23-1010, MISSISSIPPI CODE OF 1972, TO LIMIT A TRUSTEE'S PERSONAL LIABILITY; TO CREATE NEW SECTION 91-23-1011, MISSISSIPPI CODE OF 1972, TO SPECIFY THE RESPONSIBILITY OF A TRUSTEE WHO IS ALSO A GENERAL PARTNER; TO CREATE NEW SECTION 91-23-1012, MISSISSIPPI CODE OF 1972, TO PROTECT CERTAIN PERSONS DEALING WITH A TRUSTEE; TO CREATE NEW SECTION 91-23-1013, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR CERTIFICATION OF A TRUST; TO CREATE NEW SECTION 91-23-1101, MISSISSIPPI CODE OF 1972, TO REQUIRE UNIFORMITY IN CONSTRUCTION; TO CREATE NEW SECTION 91-23-1102, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE INTERFACE BETWEEN THE ACT AND ELECTRONIC SIGNATURE LAWS; TO CREATE NEW SECTION 91-23-1103, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR SEVERABILITY; TO CREATE NEW SECTION 91-23-1106, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE APPLICATION OF THE ACT TO RELATIONSHIPS EXISTING ON THE EFFECTIVE DATE THEREOF; TO RESERVE SECTIONS 91-23-104, 91-23-106, 91-23-107, 91-23-108, 91-23-109, 91-23-110, 91-23-111, 91-23-112, 91-23-302, 91-23-303, 91-23-305, 91-23-401, 91-23-402, 91-23-403, 91-23-404, 91-23-405, 91-23-406, 91-23-407, 91-23-408, 91-23-409, 91-23-410, 91-23-412, 91-23-413, 91-23-415, 91-23-416, 91-23-417, 91-23-1104 AND 91-23-1105, MISSISSIPPI CODE OF 1972; TO RESERVE ARTICLES 2, 5, 6, 7 AND 9 OF TITLE 91, CHAPTER 23, MISSISSIPPI CODE OF 1972; TO REPEAL SECTIONS 91-9-101, 91-9-103, 91-9-105, 91-9-107, 91-9-109, 91-9-111, 91-9-113, 91-9-115, 91-9-117 AND 91-9-119, MISSISSIPPI CODE OF 1972, WHICH CONSTITUTE TITLE 91, CHAPTER 9, ARTICLE 3, UNIFORM TRUSTEE POWERS; AND FOR RELATED PURPOSES.

In the House of Representatives

• Bobby Moak

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Jan 18 – Feb 2

1. Jan 18Referred to the House committee on Judiciary A
2. Feb 2Died in committee in the House