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

Top | Actions
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)