senate Bill S7137

Makes technical correction to provisions granting jurisdiction to surrogate's court over actions taken pursuant to the uniform transfers to minors act

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 30 / Apr / 2014
    • REFERRED TO JUDICIARY
  • 06 / May / 2014
    • 1ST REPORT CAL.522
  • 07 / May / 2014
    • 2ND REPORT CAL.
  • 12 / May / 2014
    • ADVANCED TO THIRD READING
  • 20 / May / 2014
    • SUBSTITUTED BY A9055

Summary

Makes technical correction to provisions granting jurisdiction to surrogate's court over actions taken pursuant to the uniform transfers to minors act.

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Bill Details

See Assembly Version of this Bill:
A9055
Versions:
S7137
Legislative Cycle:
2013-2014
Law Section:
Surrogate's Court Procedure Act
Laws Affected:
Amd §1724, SCPA

Sponsor Memo

BILL NUMBER:S7137

TITLE OF BILL: An act to amend the surrogate's court procedure act,
in relation to custodians acting under the uniform transfers to minors
act

PURPOSE:

To amend the Surrogate's Court Procedure Act section 1724 in order to
correct the section of the Estates Powers and Trusts Law being
referred to under current law.

SUMMARY OF PROVISIONS OF BILL:

Amends Surrogate's Court Procedure Act section 1724 by replacing the
reference to the repealed sections of the Estates Powers and Trusts
Law (sections 7-4.1 to 7-4.9) which referred to the Uniform Gifts to
Minors Act with a reference to the sections of the Estates Powers and
Trusts Law that contain the Uniform Transfers to Minors Act (sections
7-6.1 to 7-6.26).

JUSTIFICATION:

In its current form, the Surrogate's Court Procedure Act ("SCPA")
section 1724 specifically references the Uniform Gifts to Minors Act
("UGMA") sections of the Estates Powers and Trusts Law ("EPTL"). See,
repealed sections EPTL § 7-4.1 to 7-4.9. UGMA was repealed (1997 N.Y.
Laws 535) and replaced by Uniform Transfers to Minors Act ("UTMA")
(1996 N.Y. Laws 304). See, EPTL sections 7-6.1 to 7-6.26. When UTMA
was first enacted, UGMA was left intact because UTMA directed that
UGMA would continue to apply to transfers made before December 31,
1996. However, that overlap proved to be unwieldy for practitioners.
Therefore, UGMA was repealed the following year and UTMA was made
applicable to existing UGMA accounts. See, EPTL 7-6.22. Despite this
change; SCPA section 1724 still remains with the reference to the now
repealed sections of the EPTL.

Arguably, the purpose of SCPA section 1724 is largely superseded by
EPTL section 7-6.2 which details and defines the scope and
jurisdiction of UTMA. However, it is preferable not to repeal SCPA
section 1724.

As a general (and historical) matter, SCPA contains most of the
procedural and jurisdictional provisions of estate law. Article 17 of
the SCPA contains procedural statutory authority related to guardians
and custodians. Practitioners searching for the jurisdictional
authority for UTMA may begin their search with SCPA. Regardless, it is
confusing and incorrect to have a statute which references a now
repealed section of the EPTL. Therefore, the erroneous reference to
repealed sections of the EPTL in SCPA section 1724 is being corrected
by this proposed legislation.

LEGISLATIVE HISTORY:

New Bill, 2014.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:


None.

EFFECTIVE DATE:

Immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7137

                            I N  S E N A T E

                             April 30, 2014
                               ___________

Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary

AN ACT to amend the surrogate's court  procedure  act,  in  relation  to
  custodians acting under the uniform transfers to minors act

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 1724 of the surrogate's  court  procedure  act,  as
amended  by chapter 685 of the laws of 1967 and as renumbered by chapter
311 of the laws of 1971, is amended to read as follows:
S 1724. Custodians
  An infant or a custodian acting under [EPTL 7-4.1 to 7-4.9  inclusive]
PART SIX OF ARTICLE SEVEN OF THE ESTATES, POWERS AND TRUSTS LAW shall be
subject  to  the  jurisdiction  of  the  court  in  accordance  with the
provisions of such law.
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14328-01-4

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