 BackHOUSE OF REPRESENTATIVES
Committee Report
| Legislation: | SB 247 |
| Sponsor: | DeLuca |
| Long Title: | AN ACT AMENDING TITLE 12 OF THE DELAWARE CODE RELATING TO TRUSTS AND ESTATES AND TITLE 25 OF THE DELAWARE CODE RELATING TO PROPERTY |
| Committee: | ECONOMIC DEVELOPMENT/BANKING & INSURANCE |
| Number of Committee Members: | 13 |
| Date of Report: | 06/10/2008 |
| Committee Vote: | Favorable: | On Its Merits: | Unfavorable: |
| 0 | 7 | 0 |
Purpose of the Bill : Rep. Stone argued that SB 247 is a wonderful bill that sets out to make technical changes to the Trust Section of the Delaware Bar.
Committee Findings: David Bakerian, President and Treasurer of the Delaware Banking Association, offered his support of the bill for a number of reasons. He argued that the technical changes of the bill put Delaware at the top of the trust pyramid across the country as a very competitive market. In addition, he offered that the bill brings business into Delaware, and creates jobs in the legal and trusts communities.
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