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Senate Bill 127

Actions | Amendments

Last Action	2nd reading, to Rules
Title	AN ACT relating to management of institutional funds.
Bill Documents	Bill
Bill Request Number	1528
Sponsor	R. Palmer II
Summary of Original Version	Adopt modern standards of prudent investment and modernize the responsibilities of fiduciaries in the management of the institutional funds of charitable organizations as contained in the Uniform Prudent Management of Institutional Funds Act; repeal Uniform Management of Institutional Funds Act, KRS Sections 273.510 to 273.590.
Index Headings of Original Version	Wills and Estates - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Fiduciaries - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Corporations - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Education, Finance - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Religion - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Charitable Organizations and Institutions - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize
Proposed Amendments	House Committee Substitute 1 House Committee Amendment 1
Votes	Vote History

Actions

Top | Amendments

02/11/09	introduced in Senate
02/13/09	to Banking & Insurance (S)
02/24/09	reported favorably, 1st reading, to Calendar
02/25/09	2nd reading, to Rules
03/02/09	posted for passage in the Regular Orders of the Day for Monday, March 2, 2009 3rd reading, passed 37-0
03/03/09	received in House
03/06/09	to Banking & Insurance (H)
03/10/09	posting waived retroactively reported favorably, 1st reading, to Consent Calendar with Committee Substitute, committee amendment (1-title)
03/11/09	2nd reading, to Rules

Proposed Amendments

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Amendment	House Committee Substitute 1
Summary	Retain original provisions except remove the rebuttable presumption of imprudence if in any year the appropriation of expenditures exceeds seven percent of fair market value of an endowment fund; insert and amend provisions relating to the compensation of guardians and conservators; amend KRS 387.111 and 387.760 to adjust the rate of compensation allowed for guardians and conservators.
Index Headings	Wills and Estates - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Fiduciaries - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Corporations - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Education, Finance - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Religion - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Charitable Organizations and Institutions - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize

Amendment	House Committee Amendment 1
Sponsor	J. Greer
Summary	Make title amendment.
Index Headings	Wills and Estates - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Fiduciaries - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Corporations - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Education, Finance - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Religion - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize Charitable Organizations and Institutions - Fiduciary responsibilities and prudent investment standards of charitable institutions, modernize

Last updated: 8/28/2019 8:17 AM (EDT)