STAND. COM. REP. NO.  672

 

Honolulu, Hawaii

                , 2009

 

RE:   H.B. No. 294

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Sir:

 

     Your Committee on Judiciary, to which was referred H.B. No. 294 entitled:

 

"A BILL FOR AN ACT RELATING TO PERSONAL LIABILITY OF TRUSTEE TO THIRD PARTIES,"

 

begs leave to report as follows:

 

     The purpose of this bill is to make statutory provisions governing the personal liability of a trustee to third parties consistent with the Uniform Probate Code and state laws governing personal representatives of probate estates.

 

     The Standing Committee on the Uniform Probate Code and Probate Court Practices of the Judiciary of the State of Hawaii supported this bill.  The Hawaii Association for Justice opposed this bill.

 

     Your Committee has amended this measure by clarifying that any judgment obtained against a trustee in the trustee's fiduciary capacity may be collected against the trust estate.

 

     Your Committee notes that this measure does not change existing law that specifies that trust assets may be reached whether or not the trustee is personally liable.

 

     As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 294, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 294, H.D. 1, and be placed on the calendar for Third Reading.

 

Respectfully submitted on behalf of the members of the Committee on Judiciary,

 

 

 

 

____________________________

JON RIKI KARAMATSU, Chair