SB 127 (BR 1528) - R. Palmer II
AN ACT relating to management of institutional funds.
Adopt modern standards of prudent investment and modernize the responsibilities of fiduciaries in the management of the institutional funds of charitable organizations as contained in the Uniform Prudent Management of Institutional Funds Act; repeal Uniform Management of Institutional Funds Act, KRS Sections 273.510 to 273.590.
SB 127 - AMENDMENTS
HCS - Retain original provisions except remove the rebuttable presumption of imprudence if in any year the appropriation of expenditures exceeds seven percent of fair market value of an endowment fund; insert and amend provisions relating to the compensation of guardians and conservators; amend KRS 387.111 and 387.760 to adjust the rate of compensation allowed for guardians and conservators.
HCA (1/Title, J. Greer) - Make title amendment.
Feb 11-introduced in Senate
Feb 13-to Banking & Insurance (S)
Feb 24-reported favorably, 1st reading, to Calendar
Feb 25-2nd reading, to Rules
Mar 2-posted for passage in the Regular Orders of the Day for Monday, March 2, 2009; 3rd reading, passed 37-0
Mar 3-received in House
Mar 6-to Banking & Insurance (H)
Mar 10-posting waived retroactively; reported favorably, 1st reading, to Consent Calendar with Committee Substitute, committee amendment (1-title)
Mar 11-2nd reading, to Rules