House Status:
Senate Status:
Senate Status:
Minutes for SB107 - Committee on Judiciary
Short Title
Enacting the uniform fiduciary income and principal act (UFIPA).
Minutes Content for Mon, Feb 8, 2021
Jason Thompson presented a bill brief on SB107 explaining the Uniform Fiduciary Income and Principal Act. This is a new act replacing the Uniform Principal and Income Act. This bill was passed by the House last year and only the effective dates have changed. (Attachment 5)
Adam Proffitt submitted the fiscal note for SB107. (Attachment 6)
Proponent, Oral
Mark Knackendoffel spoke in support of SB107 stating this is an update from the act passed in Kansas 20 years ago. It provides a clarification of language and an expansion to cover financial instruments and other parts not available then. There is also a provision that clarifies which state's law applies when there is a question of jurisdiction. (Attachment 7)
There were no questions. There was neither neutral nor opponent testimony. The hearing was closed.
