Nebraska's Trustees' Powers Act and Principal and Income Act: The New Look in Nebraska Trust Law
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Authors
Volkmer, Ronald R.
Issue Date
1981
Volume
14
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
INTRODUCTION|In the second session of the 86th legislature, the Nebraska Unicameral passed LB 440. Thus was enacted into law, to become effective January 1, 1981, the Nebraska Trustees' Powers Act and the Nebraska Principal and Income Act. These acts, based upon uniform laws, represent significant changes in the Nebraska law of fiduciary administration. The purpose of the present article is to review pertinent provisions of both the Trustees' Powers Act and the Principal and Income Act, particularly in regard to the extent to which they follow the provisions of the uniform acts from which they were copied and the extent to which the new legislation changes prior Nebraska law. This article will also highlight the more significant sections of these acts and point out the problem areas not covered. References in this article to the provisions of these acts are made to Nebraska Revised Statute section numbers from the 1980 Cumulative Supplement...
Description
Citation
14 Creighton L. Rev. 121 (1980-1981)
Publisher
Creighton University School of Law