Bill Text: MS HB622 | 2010 | Regular Session | Introduced
Bill Title: Estates; hearing on final account may be waived if certain circumstances exist.
Sponsorship: Partisan Bill (Democrat 4)
Status: (Failed) 2010-02-02 - Died In Committee [HB622 Detail]
Download: Mississippi-2010-HB622-Introduced.html
MISSISSIPPI LEGISLATURE
2010 Regular Session
To: Judiciary A
By: Representatives Lane, Calhoun, Evans (91st), Fredericks
House Bill 622
AN ACT TO AMEND SECTION 91-7-291, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE FINAL ACCOUNTING OF AN ESTATE MAY BE WAIVED IF CERTAIN CIRCUMSTANCES EXIST; TO AMEND SECTIONS 91-7-295 AND 91-7-297, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 91-7-291, Mississippi Code of 1972, is amended as follows:
91-7-291. When the estate has been administered by payment of the debts and the collection of the assets, it shall be the duty of the executor or administrator, unless the court or chancellor, on cause shown, shall otherwise order, to make and file a final settlement of the administration by making out and presenting to the court, under oath, his final account, which shall contain a distinct statement of all the balances of the annual accounts, either as debits or credits, all other charges and disbursements supported by legal vouchers, amounts received and not contained in any previous annual account, and a statement of the kind and condition of all assets in his hands. In the event that the account shall be presented by a bank or trust company which is subject to the supervision of the Department of Bank Supervision of the State of Mississippi or of the Comptroller of the Currency of the United States and such account, or the petition for the approval of same, shall contain a statement under oath by an officer of said bank or trust company showing that the vouchers covering the disbursements in the account presented are on file with the said bank or trust company, such bank or trust company shall not be required to file vouchers. Provided, however, that said bank or trust company shall produce said vouchers for inspection of any interested party or his or her attorney at any time during legal banking hours at the office of said bank or trust company; and provided further, that the court on its own motion, or on the motion of any interested party, may require that said vouchers be produced and inspected at the time of hearing of any objections that may be filed to any final account. The final accounting may be waived if all the heirs or devisees or legatees are twenty-one (21) years of age or older and all persons involved are in agreement.
SECTION 2. Section 91-7-295, Mississippi Code of 1972, is amended as follows:
91-7-295. The final account so presented, with the statement as to parties, shall remain on file, subject to the inspection of any person interested. Summons shall be issued or publication be made for all parties interested, as in other suits in the chancery court, to appear at a term of the court, or before the chancellor in vacation, not less than thirty (30) days from the service of the summons or the completion of the publication, and show cause, if any they can, why the final account of the executor, administrator or guardian should not be allowed and approved. The final accounting may be waived if all the heirs or devisees or legatees are twenty-one (21) years of age or older and all persons involved are in agreement.
SECTION 3. Section 91-7-297, Mississippi Code of 1972, is amended as follows:
91-7-297. If process be returned executed, or publication has been made, the court shall examine the final account so presented and filed, hear the evidence in support of it, and the objections and evidence against it. If the court shall be satisfied that the account is correct and supported by legal vouchers where required to be filed or produced for inspection, it shall make a final decree of approval and allowance, and shall, at the same time, order the executor or administrator to make distribution of the property in his hands. In proceedings for a final settlement, the court may allow any party interested to surcharge and falsify any annual or partial settlement of the executor or administrator. The final accounting may be waived if all the heirs or devisees or legatees are twenty-one (21) years of age or older and all persons involved are in agreement.
SECTION 4. This act shall take effect and be in force from and after its passage.
