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Minutes for SB141 - Committee on Judiciary
Short Title
Enacting the Kansas uniform directed trust act.
Minutes Content for Mon, Feb 8, 2021
Jason Thompson presented a bill brief on SB141 explaining the new act addresses power of direction and the duties of trustees and trust directors. (Attachment 8)
Chairperson Warren asked if this was a completely new uniform directed trust act? Jason Thompson affirmed that was true.
Adam Proffitt submitted the fiscal note for SB141. (Attachment 9)
Proponent, Oral
Mark Knackendoffel spoke in support of SB141 stating that it is a new uniform act. The concept of a trust director or trust protector has been used in Kansas, but there is not a statutory framework defining the position. He stated 13 states have adopted a uniform directed trust act. The Kansas act does not make a substantial change from those other states. (Attachment 10)
There were questions for the conferee.
There was neither neutral nor opponent testimony. The hearing was closed.
The meeting was adjourned at 11:08 AM.
