Legislature(1997 - 1998)
1998-05-12 Senate Journal
Full Journal pdf1998-05-12 Senate Journal Page 4149 SB 354 Message dated May 12 was read, stating the House passed SENATE BILL NO. 354 with the following amendment: Page 9, line 27, following A Insert dissenting 1998-05-12 Senate Journal Page 4150 SB 354 Page 9, line 29, following power: Insertif the dissenting trustee joins because of a requirement for unanimous trustee consent to the exercise of the power Page 9, line 29 through page 10, line 2: Delete A dissenting trustee is not liable to the beneficiaries or to others for the consequences of an act in which the dissenting trustee joins at the direction of the majority trustees if the dissenting trustee expresses the dissenting trustee's dissent in writing to a co-trustee at or before the time of joinder. InsertThe dissenting trustees dissent must be presented in writing to a co-trustee and a legally competent beneficiary or, if the beneficiary is a minor or an incompetent person, the representative of the beneficiary. Page 10, line 5, following exercise: Delete the Insert that Page 12, lines 12-16: Delete all material Page 13, line 24, following withdrawal. InsertNothing in this section is intended to authorize the mingling of trust funds. Page 15, line 5, following contract: Deleteconstitutes prima facie evidence of an intent to exclude the trustee from personal liability, and the addition of the words "and not individually" following the word "trusts" or the words "as trustee" after the signature of a trustee to a contract constitutes irrebuttable evidence of an intent to exclude the trustee from personal liability, and 1998-05-12 Senate Journal Page 4151 SB 354 Insertcreates a presumption, which may only be rebutted by clear and convincing evidence otherwise, of an intent to exclude the trustee from personal liability, and, unless the presumption is rebutted, Page 15, lines 16-24: Delete all material. Insertthe trustee of an officer or employee of the trustee was not guilty of personal fault in incurring the liability. (b) If a trustee has incurred personal liability for a tort committed in the administration of the trust and that tort increases the value of the trust property, the trustee is entitled to exoneration or reimbursement to the extent of the increase in value as a result of the tort even though the trustee would not otherwise be entitled to exoneration or reimbursement. Page 16, lines 1-2: Delete all material. Page 16, lines 3-4: Delete(2) although the tort was not a common incident under (1) of this subsection, Insert (1) Renumber the following paragraph accordingly. Page 16, line 7: Delete or (2) Page 16, line 9: Delete or (2) Page 16, line 11: Delete 3" Insert 2" 1998-05-12 Senate Journal Page 4152 SB 354 and so, SENATE BILL NO. 354 am H An Act relating to wills, intestacy, nonprobate transfers, and trusts; and amending Rule 24, Alaska Rules of Civil Procedure is returned for consideration. Senator Taylor moved that the Senate concur in the House amendment. The question being: Shall the Senate concur in the House amendment? The roll was taken with the following result: SB 354 am H Shall the Senate concur in the House Amendment to SB 354? Court Rule YEAS: 20 NAYS: 0 EXCUSED: 0 ABSENT: 0 Yeas: Adams, Donley, Duncan, Ellis, Green, Halford, Hoffman, Kelly, Leman, Lincoln, Mackie, Miller, Parnell, Pearce, Phillips, Sharp, Taylor, Torgerson, Ward, Wilken and so, the Senate concurred in the House amendment, thus adopting SENATE BILL NO. 354 am H An Act relating to wills, intestacy, nonprobate transfers, and trusts; and amending Rule 24, Alaska Rules of Civil Procedure. Senator Taylor moved and asked unanimous consent that the vote on the passage of the bill be considered the vote on the Court Rule change. Without objection, it was so ordered. The Secretary was requested to notify the House. The bill was referred to the Secretary for enrollment.