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MS HB243

Bill

Official Source

Status

Failed

2/5/2013

Primary Sponsor

Mark Baker

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Requires attorneys appointed as trustees or fiduciaries by a chancellor to post a bond of at least 200% of the value of the matter they will oversee

  • Applies to matters involving administration of funds for minors, incompetents, or estates

  • Bond serves as acknowledgement that the attorney will comply with all applicable laws, rules, regulations, and ethical requirements for trustees or fiduciaries

  • Attorney forfeits the full bond amount and faces additional legal penalties if they fail to adhere to applicable requirements

  • Effective date: July 1, 2013

Legislative Description

Attorneys; require bond when acting as trustee or fiduciary.

Last Action

Died In Committee

2/5/2013

Committee Referrals

Judiciary A1/14/2013

Full Bill Text

No bill text available