Kentucky House Bill 154 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on March 27 2020 - 100% progression
Action: 2020-03-27 - signed by Governor (Acts ch. 41)
Text: Latest bill text (Enrolled) [PDF]

Establish KRS Chapter 390 and create new sections thereof to define various terms; specify the governing law over a power of appointment; state that common law supplements this chapter; outline the creation of a power of appointment; prohibit the transfer of a power of appointment; specify general presumptions upon a power of appointment's creation; make an exception to the general presumption about a power of appointment; define "adverse party"; allow a donor to revoke or amend a power of appointment in certain instances; state when a power of appointment may be exercised; provide that a residuary clause manifests a powerholder's intent to exercise a power of appointment; state that a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; require substantial compliance with a formal requirement of appointment; outline permissible appointments; provide that appointment to a deceased appointee is ineffective and appointment to an impermissible appointee is ineffective; require a powerholder's intent to be carried out in cases of selective allocation; establish the procedure for disposition of property ineffectively appointed; provide for the disposition of unappointed property under released or unexercised general power; provide for the disposition of unappointed property under released or unexercised nongeneral power; provide for the disposition of unappointed property if partial appointment is to the taker in default; provide for the disposition of property appointed to the taker in default; allow a powerholder to revoke or amend an exercise; allow a powerholder to disclaim a power of appointment or contract to appoint or not appoint any property subject to the power; allow a powerholder to release a power of appointment; state the method in which a powerholder may release a power of appointment; allow a powerholder to revoke or amend a release of power; allow a powerholder of a presently exercisable power of appointment and a not presently exercisable power of appointment to contract; establish a remedy for a powerholder's breach of a contract to appoint or not to appoint appointive property; outline the rights of a powerholder's creditors in appointive property; state when appointive property is subject to a claim when the power is general; state when appointive property is subject to a claim when the power is nongeneral; require uniformity of interpretation and application with regard to other states that have enacted this Act; specify how the enactment of this Act affects existing powers of appointment; provide that KRS Chapter 390 may be known as the Kentucky Uniform Powers of Appointment Act; amend KRS 381.225 to provide that a new perpetuities period may be started when a power of appointment is exercised, if the person exercising the power so provides; amend KRS 381.226 to exclude any interest in property created by the exercise of a special power of appointment granted by an instrument that was irrevocable on September 25, 1985, from being construed as requiring the interests to vest within the period specified in KRS 381.224, 381.225, and 381.226; repeal KRS 386.095, 394.060, and 394.070, which relate to exercise and release of powers.

AN ACT relating to grants of legal authority by individuals.

Rep. Ed Massey [R]

Rep. Kimberly Banta [R]

2020-03-19 - House - House: Third Reading RCS# 278 (Y: 81 N: 2 NV: 0 Abs: 17) [PASS]
2020-03-18 - Senate - Senate: Third Reading W/scs1, sfa1, scta1 RSN# 1384 (Y: 31 N: 0 NV: 0 Abs: 7) [PASS]
2020-02-04 - House - House: Third Reading RCS# 63 (Y: 92 N: 0 NV: 0 Abs: 6) [PASS]

Date	Chamber	Action
2020-03-27	House	signed by Governor (Acts ch. 41)
2020-03-19	House	delivered to Governor
2020-03-19	House	enrolled, signed by President of the Senate
2020-03-19	House	enrolled, signed by Speaker of the House
2020-03-19	House	passed 81-2
2020-03-19	House	House concurred in Senate Committee Substitute (1) and floor amendments (1) committee amendment (1-title)
2020-03-19	House	posted for passage for concurrence in Senate Committee Substitute (1), floor amendment (1) and committee amendment (1-title)
2020-03-19	House	to Rules (H)
2020-03-19	House	received in House
2020-03-18	Senate	3rd reading, passed 31-0 with Committee Substitute (1), floor amendment (1), and committee amendment (1-title)
2020-03-18	Senate	posted for passage in the Regular Orders of the Day for Wednesday, March 18, 2020
2020-03-17	Senate	floor amendment (1) filed to Committee Substitute
2020-03-17	Senate	2nd reading, to Rules
2020-03-12	Senate	reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1) and committee amendment (1-title)
2020-02-07	Senate	to Judiciary (S)
2020-02-05	Senate	received in Senate
2020-02-04	House	3rd reading, passed 92-0
2020-02-03	House	posted for passage in the Regular Orders of the Day for Tuesday, February 4, 2020
2020-01-30	House	2nd reading, to Rules
2020-01-29	House	reported favorably, 1st reading, to Calendar
2020-01-10	House	posted in committee
2020-01-07	House	to Judiciary (H)
2020-01-07	House	introduced in House
2019-12-11	House	Prefiled by the sponsor(s).

Type	Source
Summary	https://apps.legislature.ky.gov/record/20RS/hb154.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/20RS/hb154/orig_bill.pdf
Text	https://apps.legislature.ky.gov/recorddocuments/bill/20RS/hb154/bill.pdf
Roll Call	https://apps.legislature.ky.gov/record/20RS/hb154/vote_history.pdf