02RS HB358


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HB 358 (BR 1656) - S. Westrom, J. Bruce

     AN ACT relating to administration of trusts and estates.
     Amend KRS 386.020 to allow fiduciaries holding funds for loan or investment to invest in certificates of deposit and savings accounts in excess of the limits of insurance of the Federal Deposit Insurance Corporation if such investments are fully secured by an irrevocable letter of credit issued by the United States of America or by an agency or instrumentality thereof, a pledge of securities named in KRS 386.020, a surety bond, or a combination of such irrevocable letters of credit, securities, and surety bonds.

     Jan 15-introduced in House
     Jan 16-to Judiciary (H)
     Jan 18-reassigned to Banking and Insurance (H); posted in committee
     Jan 23-reported favorably, 1st reading, to Calendar
     Jan 24-2nd reading, to Rules
     Jan 30-posted for passage in the Regular Orders of the Day for Thursday, January 31, 2002
     Jan 31-3rd reading, passed 94-0; received in Senate
     Feb 5-to Banking and Insurance (S)
     Mar 14-reported favorably, 1st reading, to Consent Calendar
     Mar 15-2nd reading, to Rules
     Mar 21-posted for passage in the Consent Orders of the Day for Monday, March 25, 2002
     Mar 25-3rd reading, passed 38-0
     Mar 26-received in House; enrolled, signed by each presiding officer; delivered to Governor
     Apr 2-signed by Governor (Acts ch. 157)

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