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S. 940
STATUS INFORMATION
General Bill
Sponsors: Senator Hayes
Document Path: l:\council\bills\gjk\20391sd10.docx
Introduced in the Senate on January 12, 2010
Currently residing in the Senate Committee on Judiciary
Summary: Probate court
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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12/9/2009 Senate Prefiled
12/9/2009 Senate Referred to Committee on Judiciary
1/12/2010 Senate Introduced and read first time SJ-27
1/12/2010 Senate Referred to Committee on Judiciary SJ-27
1/25/2010 Senate Referred to Subcommittee: Malloy (ch), Ford, Massey,
L.Martin, Mulvaney
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 62-7-201, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE EXCLUSIVE JURISDICTION OF THE PROBATE COURT REGULATING PROCEEDINGS CONCERNING THE INTERNAL AFFAIRS OF TRUSTS AND EXCEPTIONS TO THIS EXCLUSIVE JURISDICTION, SO AS TO CORRECT A REFERENCE REGARDING MATTERS WHICH MAY BE REMOVED TO THE CIRCUIT COURT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 62-7-201(a) of the 1976 Code is amended to read:
"(a) Subject to the provisions of Section 62-1-302(c) and (d), the probate court has exclusive jurisdiction of proceedings initiated by interested parties concerning the internal affairs of trusts. Proceedings which that may be maintained under pursuant to this section are those concerning the administration and distribution of trusts, the declaration of rights, and the determination of other matters involving trustees and beneficiaries of trusts. These include, but are not limited to, proceedings to:
(1) ascertain beneficiaries, determine any a question arising in the administration or distribution of any a trust including questions of construction of trust instruments, instruct trustees, and determine the existence or nonexistence of any immunity, power, privilege, duty, or right;
(2) review and settle interim or final accounts;
(3) review the propriety of employment of any a person by a trustee including any an attorney, auditor, investment advisor or other specialized agent or assistant, and the reasonableness of the compensation of any a person so employed, and the reasonableness of the compensation determined by the trustee for his own services. Any A person who has received excessive compensation from a trust may be ordered to make appropriate refunds. The provisions of this section do not apply to the extent there is a contract providing for the compensation to be paid for the trustee's services or if the trust directs otherwise; and
(4) appoint or remove a trustee."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Monday, October 10, 2011 at 12:16 P.M.