Wyoming SF97: Trust code revisions.

What the bill says

An act relating to the uniform trust code; clarifying the definition of "qualified trustee"; specifying who is required to receive notice for judicial proceedings related to trusts; specifying that no rule of perpetuities applies to noncharitable purpose trusts; specifying when a trustee can reimburse a person for certain tax costs attributable to the trust; specifying applicability; and providing for an effective date.

From the introduced text:

AN ACT relating to the uniform trust code; clarifying the definition of "qualified trustee"; specifying who is required to receive notice for judicial proceedings related to trusts; specifying that no rule of perpetuities applies to noncharitable purpose trusts; specifying when a trustee can reimburse a person for certain tax costs attributable to the trust; specifying applicability; and providing for an effective date. Section 1. W.S. 4‐10‐103(a)(xxxv)(intro), (B)(intro) and (C), 4‐10‐109 by creating a new subsection (e), 4‐10‐410(a)(iv) and 4‐10‐816(a)(xxxi), (xxxii) and by creating a new paragraph (xxxiii) and (b) are amended to read: 4‐10‐103. Definitions. (a) As used in this act: (xxxv) "Qualified trustee", as used in article 5 of this act, means: (B) A person authorized by the law of this state to act as a trustee or a regulated financial institution which that conducts one (1) or more of the following activities within this state: (C) Neither the settlor, either directly or indirectly through an entity, unless discretionary distributions by the entity require the consent or approval of one (1) or more disinterested persons who are not a related or subordinate party with respect to the settlor within the meaning of 26 U.S.C. § 672(c), nor any other natural person who is a nonresident of this state, nor an entity that is not authorized by the law of …

Read the full official text

Sponsors

• Lawley, Martha (R, H27)
• Case, Cale (R, S25) · primary sponsor
• Tara Nethercott (R, S04)
• Olsen, Jared (R, S08)

Latest actions

1. March 5, 2025: Governor Signed SEA No. 0066
2. March 5, 2025: Assigned Chapter Number 115
3. March 3, 2025: H 3rd Reading:Passed 60-0-2-0-0
4. March 3, 2025: Assigned Number SEA No. 0066
5. March 3, 2025: S President Signed SEA No. 0066
6. March 3, 2025: H Speaker Signed SEA No. 0066
7. February 28, 2025: H 2nd Reading:Passed
8. February 27, 2025: H COW:Passed
9. February 24, 2025: H09 - Minerals:Recommend Do Pass 8-0-1-0-0
10. February 24, 2025: H Placed on General File

Votes

• H 3rd Reading:Passed 58-3-1-0-0 (March 3, 2025): 58 yea, 3 nay, passed
• H06 - Travel:Recommend Do Pass 9-0-0-0-0 (February 24, 2025): 9 yea, 0 nay, passed
• S 3rd Reading:Passed 26-1-4-0-0 (February 3, 2025): 26 yea, 1 nay, passed
• S06 - Travel:Recommend Do Pass 5-0-0-0-0 (January 27, 2025): 5 yea, 0 nay, passed

Common questions

What is SF97?

SF97 is a bill in the Wyoming Legislature (2025 General Session): Trust code revisions.

What does SF97 do?

In its own words: An act relating to the uniform trust code; clarifying the definition of "qualified trustee"; specifying who is required to receive notice for judicial proceedings related to trusts; specifying that no rule of perpetuities applies to noncharitable purpose trusts; specifying when a trustee can reimburse a person for certain tax costs attributable to the trust; specifying applicability; and providing for an effective date.

What is the status of SF97?

Chaptered as of March 5, 2025. Latest action: Governor Signed SEA No. 0066 (March 5, 2025).

Who sponsored SF97?

Case, Cale (R, S25), with 3 co-sponsors.

Where is the official record for SF97?

On the Wyoming Legislature website: https://wyoleg.gov/Legislation/2025/SF0097