Brief ⁽¹⁾

HB 2148 concerns trusts and provides a procedure for certification of a trust. The bill provides that a certification of trust may be used to establish the existence and terms of a trust, and that a person who acts in reliance upon such a certification without knowledge that representations are incorrect is not liable to any person for such actions.

The certification of trust document must be in the form of any affidavit and signed and acknowledged by a corporate trustee or one or more acting trustees of the trust.

Background

HB 2148 was requested by the Kansas Bankers Association whose representative explained that the bill accomplishes two goals: it provides an alternative to trustees who do not wish to copy the full trust for a third party; and the use of the certificate provides protection to third parties dealing with a trustee.

The fiscal note prepared by the Division of the Budget indicates passage of the bill will have no fiscal effect.

1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/fulltext.cgi