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Senate committee moves to ease court approval for low-risk guardianship investments
INSURANCE & COMMERCE - SENATE · March 14, 2019
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Summary
SB501 was approved to shift certain low-risk securities (insured CDs, federal land-bank notes, school district bonds) out of the category requiring prior court approval, reducing time and cost for guardianships while retaining fiduciary duties for investment prudence.
The Senate committee approved SB501, a bill that reallocates several types of low-risk instruments in the guardianship investment statute so fiduciaries can invest without seeking prior court approval for those specific instruments.
Sponsor Senator Malek said the…
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