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SB 306 Signed Into Law

Trustees May Resign As Trustees

Sen. Mike Morrell

SB 306 has been signed into law by California Governor Gavin Newsom. It will go into effect on January 1st, 2020.  The bill was sponsored by Senator Mike Morrell and was supported by the UTA.  It builds upon laws enacted in Arizona and elsewhere which create an express ability for trustees to unilaterally withdraw or resign as trustee without the consent of the beneficiary. SB 306 was drafted at the request of an active UTA member.  If you have a request for a new law (or an amendment to an existing law) we encourage you to join UTA’s Legislative Committee.  SB 306 will be addressed at the Legislative Update panel at UTA’s 44th Annual Conference, held November 10-12th at the Green Valley Ranch Resort, Spa & Casino in Las Vegas.

 

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