Legislature(1993 - 1994)

04/30/1994 11:45 AM JUD

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
txt
 SENATOR TAYLOR brought  HB 316 RULE  (AGAINST PERPETUITIES) before            
 the committee as the final order of business.                                 
                                                                               
 TIM BENINTENDI, staff to Representative Carl Moses, explained this            
 law deals with issues relating to the inheritance of property and             
 identifying persons who may eventually have an interest in that               
 property.  It is also designed to prevent unreasonably long lasting           
 restrictions on the disposal of property.  Alaska's current statute           
 was last updated in 1983, and passage of HB 316 will simplify the             
 administration of estates and trusts, as well as reducing                     
 perpetuity litigation.                                                        
                                                                               
 Number 435                                                                    
                                                                               
 ART PETERSON, a Uniform Law Commissioner for the State of Alaska,             
 stated his support for HB 316.  He said the legislation offers the            
 "third generation" of statutory attempts to improve the common law            
 of rule.  Alaska has on the books the "second generation" version,            
 and it has created its own kinds of problems.                                 
                                                                               
 Number 530                                                                    
                                                                               
 SENATOR JACKO moved that HB 316 be passed out of committee with               
 individual recommendations.  Hearing no objection, it was so                  
 ordered.                                                                      

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