02/15/1996 01:34 PM Senate L&C

 SL&C 2/15/96                                                                  
                                                                               
          SB 258 TRUSTS & PROPERTY TRANSFERS IN TRUST                         
                                                                              
 SENATOR KELLY announced  SB 258  to be up for consideration.                  
                                                                               
 SHERMAN ERNOUF, Legislative Aide to Senator Kelly, explained that             
 the proposed committee substitute conforms this bill to the House             
 bill.  It allows national banks to be recognized in the definition            
 and allows the property to be managed by Alaskans only.                       
                                                                               
 SENATOR KELLY stated they have heard no opposition to this bill.              
 The Alaska Banking Industry does support this bill.                           
                                                                               
 SENATOR TORGERSON moved to adopt the CS to SB 258.  There were no             
 objections and it was so ordered.                                             
                                                                               
 SENATOR TORGERSON moved to pass CSSB 258 from Committee with                  
 individual recommendations.  There were no objections and it was so           
 ordered.