SB391: Bill Text

SB391,235,24 54.882 (2) Except for a person who is a transferor under s. 880.625 54.860, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.

SB391,235,25 (3) Except as provided in s. 880.695 54.888 (6), a custodian need not give a bond.

SB391, s. 538 Section 538. 880.685 of the statutes is renumbered 54.884, and 54.884 (2) and (3), as renumbered, are amended to read:

SB391,236,4 54.884 (2) The propriety of, or the authority under ss. 880.61 to 880.72 54.854 to 54.898 for, any act of the purported custodian.

SB391,236,7 (3) The validity or propriety under ss. 880.61 to 880.72 54.854 to 54.898 of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian.

SB391, s. 539 Section 539. 880.69 of the statutes is renumbered 54.886.

SB391, s. 540 Section 540. 880.695 of the statutes is renumbered 54.888, and 54.888 (1), (2) and (6), as renumbered are amended to read:

SB391,236,21 54.888 (1) A person nominated under s. 880.62 54.858 or designated under s. 880.65 54.870 as custodian may decline to serve by delivering a valid disclaimer under s. 854.13 to the person who made the nomination or to the transferor or the transferor's legal representative. If the event giving rise to a transfer has not occurred and no substitute custodian able, willing and eligible to serve was nominated under s. 880.62 54.858, the person who made the nomination may nominate a substitute custodian under s. 880.62 54.858; otherwise the transferor or the transferor's legal representative shall designate a substitute custodian at the time of the transfer, in either case from among the persons eligible to serve as custodian for that kind of property under s. 880.65 54.870 (1). The custodian so designated has the rights of a successor custodian.

SB391,237,2 (2) A custodian at any time may designate a trust company or an adult other than a transferor under s. 880.625 54.860 as successor custodian by executing and dating an instrument of designation before a subscribing witness other than the successor. If the instrument of designation does not contain or is not accompanied by the resignation of the custodian, the designation of the successor does not take effect until the custodian resigns, dies, becomes incapacitated or is removed.

SB391,237,8 (6) A transferor, the legal representative of a transferor, an adult member of the minor's family, a guardian of the person of the minor, the conservator of the minor or the minor if the minor has attained the age of 14 years may petition the court to remove the custodian for cause and to designate a successor custodian other than a transferor under s. 880.625 54.860 or to require the custodian to give appropriate bond.

SB391, s. 541 Section 541. 880.70 of the statutes is renumbered 54.890, and 54.890 (1) (b), (3) and (4), as renumbered, are amended to read:

SB391,237,14 54.890 (1) (b) For a determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property unless the responsibility has been adjudicated in an action under s. 880.69 54.886 to which the minor or the minor's legal representative was a party.

SB391,237,17 (3) The court, in a proceeding under ss. 880.61 to 880.72 54.854 to 54.898 or in any other proceeding, may require or permit the custodian or the custodian's legal representative to account.

SB391,237,21 (4) If a custodian is removed under s. 880.695 54.888 (6), the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property.

SB391, s. 542 Section 542. 880.705 of the statutes is renumbered 54.892, and 54.892 (1) and (2), as renumbered, are amended to read:

SB391,237,25 54.892 (1) The minor's attainment of 21 years of age with respect to custodial property transferred under s. 880.625 or 880.63 54.860 or 54.862;

SB391,238,2 (2) The minor's attainment of 18 years of age with respect to custodial property transferred under s. 880.635 or 880.64 54.864 or 54.866; or

SB391, s. 543 Section 543. 880.71 of the statutes is renumbered 54.894, and 54.894 (intro.) and (2), as renumbered, are amended to read:

SB391,238,6 54.894 Applicability. (intro.) Sections 880.61 to 880.72 54.854 to 54.898 apply to a transfer within the scope of s. 880.615 54.856 made after April 8, 1988, if:

SB391,238,11 (2) The instrument by which the transfer purports to have been made uses in substance the designation "as custodian under the Uniform Gifts to Minors Act" or "as custodian under the Uniform Transfers to Minors Act" of any other state, and the application of ss. 880.61 to 880.72 54.854 to 54.898 is necessary to validate the transfer.

SB391, s. 544 Section 544. 880.715 of the statutes is renumbered 54.896 and amended to read:

SB391,238,18 54.896 Effect on existing custodianships. (1) Any transfer of custodial property as defined in ss. 880.61 to 880.72 54.854 to 54.898 made before April 8, 1988, is validated notwithstanding that there was no specific authority in ss. 880.61 to 880.71, 1985 stats., for the coverage of custodial property of that kind or for a transfer from that source at the time the transfer was made.

SB391,238,22 (2) Sections 880.61 to 880.72 54.854 to 54.898 apply to all transfers made before April 8, 1988, in a manner and form prescribed in ss. 880.61 to 880.71, 1985 stats., except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on April 8, 1988.

SB391,239,2 (3) Sections 880.61 to 880.705 54.854 to 54.892 with respect to the age of a minor for whom custodial property is held under ss. 880.61 to 880.72 54.854 to 54.898 do not apply to custodial property held in a custodianship that terminated because of the minor's attainment of the age of 18 after March 23, 1972 and before April 8, 1988.

SB391,239,8 (4) To the extent that ss. 880.61 to 880.72 54.854 to 54.898, by virtue of sub. (2), do not apply to transfers made in a manner prescribed in ss. 880.61 to 880.71, 1985 stats., or to the powers, duties and immunities conferred by transfers in that manner upon custodians and persons dealing with custodians, the repeal of ss. 880.61 to 880.71, 1985 stats., does not affect those transfers, powers, duties and immunities.

SB391, s. 545 Section 545. 880.72 of the statutes is renumbered 54.898 and amended to read:

SB391,239,14 54.898 Uniformity of application and construction. Sections 880.61 to 880.72 54.854 to 54.898 shall be applied and construed to effectuate their general purpose to make uniform the law with respect to the subject of ss. 880.61 to 880.72 54.854 to 54.898 among states enacting it.

SB391, s. 546 Section 546. Subchapter IV (title) of chapter 880 [precedes 880.75] of the statutes is repealed.

SB391, s. 547 Section 547. 880.75 of the statutes is renumbered 54.92.

SB391, s. 548 Section 548. 880.76 of the statutes is renumbered 54.93, and 54.93 (1), (2) and (3), as renumbered, are amended to read:

SB391,239,24 54.93 (1) Definitions. All definitions in s. 880.75 54.92 (1) (a) to (e) and (g) shall apply in this section, unless the context otherwise requires. "Third party" is a person other than a bank, broker, transfer agent or issuer who with respect to a security held by an incompetent or spendthrift effects a transaction otherwise than directly with the incompetent or spendthrift.

SB391,240,16 (2) Security transactions involving incompetent or spendthrift; liability. A bank, broker, issuer, third 3rd party, or transfer agent incurs no liability by reason of his or her treating an incompetent or spendthrift as having capacity to transfer a security, to receive or to empower others to receive dividends, interest, principal, or other payments or distributions, to vote or give consent in person or by proxy, or to make elections or exercise rights relating to the security, unless prior to acting in the transaction the bank, broker, issuer, third 3rd party, or transfer agent had received written notice in the office acting in the transaction that the specific security is held by a person who has been adjudicated an incompetent or a spendthrift or unless an individual conducting the transaction for the bank, broker, issuer, third 3rd party, or transfer agent had actual knowledge that the holder of the security is a person who has been adjudicated an incompetent or a spendthrift, or actual knowledge of filing of lis pendens as provided in s. 880.215 54.47. Except as otherwise provided in this section, such a bank, broker, issuer, third 3rd party, or transfer agent may assume without inquiry that the holder of a security is not an incompetent or spendthrift.

SB391,241,5 (3) Acts not subject to disaffirmance or avoidance. An incompetent or spendthrift, who has transferred a security, received or empowered others to receive dividends, interest, principal, or other payments or distributions, voted or given consent in person or by proxy, or made an election or exercised rights relating to the security, has no right thereafter, as against a bank, broker, issuer, third 3rd party, or transfer agent to disaffirm or avoid the transaction, unless prior to acting in the transaction the bank, broker, issuer, third 3rd party, or transfer agent against whom the transaction is sought to be disaffirmed or avoided had received notice in the office acting in the transaction that the specific security is held by a person who has been adjudicated an incompetent or a spendthrift or unless an individual conducting the transaction for the bank, broker, issuer, third 3rd party, or transfer agent had actual knowledge that the holder is a person who has been adjudicated an incompetent or a spendthrift, or actual knowledge of filing of lis pendens as provided in s. 880.215 54.47.

SB391, s. 549 Section 549. Subchapter V (title) of chapter 880 [precedes 880.81] of the statutes is repealed.

SB391, s. 550 Section 550. 880.81 of the statutes is renumbered 54.950, and 54.950 (3), (4), (7) and (12), as renumbered, are amended to read:

SB391,241,13 54.950 (3) "Conservator" Notwithstanding s. 54.01 (3), "conservator" means a person appointed or qualified by a court by voluntary proceedings to manage the estate of an individual, or a person legally authorized to perform substantially the same functions.

SB391,241,15 (4) "Court" Notwithstanding s. 54.01 (4), "court" means the circuit court of this state.

SB391,241,19 (7) "Guardian" Notwithstanding s. 54.01 (10), "guardian" means a person appointed or qualified by a court as a guardian of the person or estate, or both, of an individual, including a limited guardian with limited powers, but not a person who is only a guardian ad litem.

SB391,241,23 (12) "Personal representative" Notwithstanding s. 54.01 (23), "personal representative" means an executor, administrator or special administrator of a decedent's estate, a person legally authorized to perform substantially the same functions or a successor to any of them.

SB391, s. 551 Section 551. 880.815 of the statutes is renumbered 54.952, and 54.952 (8), as renumbered, is amended to read:

SB391,242,3 54.952 (8) This subchapter does Sections 54.950 to 54.988 do not displace or restrict other means of creating trusts. A trust whose terms do not conform to this subchapter may be enforceable according to its terms under other law.

SB391, s. 552 Section 552. 880.82 of the statutes is renumbered 54.954.

SB391, s. 553 Section 553. 880.825 of the statutes is renumbered 54.956.

SB391, s. 554 Section 554. 880.83 of the statutes is renumbered 54.958, and 54.958 (1), as renumbered, is amended to read:

SB391,242,14 54.958 (1) Unless otherwise directed by an instrument designating a custodial trustee pursuant to s. 880.82 54.954, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator or guardian of the estate may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds $10,000, the transfer is not effective unless authorized by the court.

SB391, s. 555 Section 555. 880.835 of the statutes is renumbered 54.960, and 54.960 (3), as renumbered, is amended to read:

SB391,242,19 54.960 (3) A custodial trustee of custodial trust property held for more than one beneficiary shall separately account to each beneficiary pursuant to ss. 880.84 and 880.88 54.962 and 54.978 for the administration of the custodial trust.

SB391, s. 556 Section 556. 880.84 of the statutes is renumbered 54.962.

SB391, s. 557 Section 557. 880.845 of the statutes is renumbered 54.964, and 54.964 (2), as renumbered, is amended to read:

SB391,242,24 54.964 (2) This section does not relieve a custodial trustee from liability for a violation of s. 880.84 54.962.

SB391, s. 558 Section 558. 880.85 of the statutes is renumbered 54.966.

SB391, s. 559 Section 559. 880.855 of the statutes is renumbered 54.968, and 54.968 (1) (a), as renumbered, is amended to read:

SB391,243,3 54.968 (1) (a) The custodial trust was created under s. 880.83 54.958.

SB391, s. 560 Section 560. 880.86 of the statutes is renumbered 54.970.

SB391, s. 561 Section 561. 880.865 of the statutes is renumbered 54.972.

SB391, s. 562 Section 562. 880.87 of the statutes is renumbered 54.974, and 54.974 (1) and (3), as renumbered, are amended to read:

SB391,243,16 54.974 (1) Before accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made the designation, the transferor or the transferor's legal representative. If an event giving rise to a transfer has not occurred, the substitute custodial trustee designated under s. 880.82 54.954 becomes the custodial trustee, or, if a substitute custodial trustee has not been designated, the person who made the designation may designate a substitute custodial trustee pursuant to s. 880.82 54.954. In other cases, the transferor or the transferor's legal representative may designate a substitute custodial trustee.

SB391,244,2 (3) If a custodial trustee or successor custodial trustee is ineligible, resigns, dies or becomes incapacitated, the successor designated under s. 880.815 (7) or 880.82 54.952 (7) or 54.954 becomes custodial trustee. If there is no effective provision for a successor, the beneficiary, if not incapacitated, may designate a successor custodial trustee. If the beneficiary is incapacitated or fails to act within 90 days after the ineligibility, resignation, death or incapacity of the custodial trustee, the beneficiary's conservator or guardian of the estate becomes successor custodial trustee. If the beneficiary does not have a conservator or a guardian of the estate, or the conservator or guardian of the estate fails to act, the resigning custodial trustee may designate a successor custodial trustee.

SB391, s. 563 Section 563. 880.875 of the statutes is renumbered 54.976.

SB391, s. 564 Section 564. 880.88 of the statutes is renumbered 54.978.

SB391, s. 565 Section 565. 880.885 of the statutes is renumbered 54.980.

SB391, s. 566 Section 566. 880.89 of the statutes is renumbered 54.982, and 54.982 (2) (b), as renumbered, is amended to read:

SB391,244,9 54.982 (2) (b) To the survivor of multiple beneficiaries if survivorship is provided for pursuant to s. 880.835 54.960.

SB391, s. 567 Section 567. 880.895 of the statutes is renumbered 54.984, and 54.984 (1) (intro.), as renumbered, is amended to read:

SB391,244,14 54.984 (1) (intro.) If a transaction, including a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of s. 880.815 54.952 are satisfied by any of the following:

SB391, s. 568 Section 568. 880.90 of the statutes is renumbered 54.986, and 54.986 (1), as renumbered, is amended to read:

SB391,244,24 54.986 (1) This subchapter applies Sections 54.950 to 54.988 apply to a transfer or declaration creating a custodial trust that refers to this subchapter if, at the time of the transfer or declaration, the transferor, beneficiary or custodial trustee is a resident of or has its principal place of business in this state or custodial trust property is located in this state. The custodial trust remains subject to this subchapter despite a later change in residence or principal place of business of the transferor, beneficiary or custodial trustee, or removal of the custodial trust property from this state.

SB391, s. 569 Section 569. 880.905 of the statutes is renumbered 54.988 and amended to read:

SB391,245,6 54.988 Uniformity of application and construction. This subchapter Sections 54.950 to 54.988 shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this subchapter among states enacting it.

SB391, s. 570 Section 570. 885.17 of the statutes is amended to read:

SB391,245,20 885.17 Transactions with deceased agent. No party, and no person from, through, or under whom a party derives the party's interest or title shall, may be examined as a witness in respect to any transaction or communication by the party or person personally with an agent of the adverse party or an agent of the person from, through, or under whom such adverse party derives his or her interest or title, when such if the agent is dead or insane, or otherwise legally, mentally ill, or adjudicated incompetent as a witness, unless the opposite party shall first be examined or examine some other witness in his or her behalf examined in respect to some transaction or communication between such the agent and such the other party or person; or unless the testimony of such the agent, at any time taken, be first read or given in evidence by the opposite party; and then, in either case respectively, only in respect to such the transaction or communication of which testimony is so given or to the matters to which such the testimony relates.

SB391, s. 571 Section 571. 905.04 (4) (a) of the statutes is amended to read:

SB391,246,6 905.04 (4) (a) Proceedings for hospitalization, guardianship, protective services or protective placement. There is no privilege under this rule as to communications and information relevant to an issue in proceedings to hospitalize the patient for mental illness, to appoint a guardian under s. 880.33 in this state, for court-ordered protective services or protective placement, or for review of guardianship, protective services or protective placement orders, if the physician, registered nurse, chiropractor, psychologist, social worker, marriage and family therapist or professional counselor in the course of diagnosis or treatment has determined that the patient is in need of hospitalization, guardianship, protective services, or protective placement.

SB391, s. 572 Section 572. 905.04 (4) (am) of the statutes is amended to read:

SB391,246,11 905.04 (4) (am) Proceedings for guardianship. There is no privilege under this rule as to information contained in a statement concerning the mental condition of the patient furnished to the court by a physician or psychologist under s. 54.36 (1) or s. 880.33 (1), 2003 stats.

SB391, s. 573 Section 573. 938.02 (20m) (a) 5. of the statutes is amended to read:

SB391,246,15 938.02 (20m) (a) 5. If a person specified in subd. 1. has been determined to be adjudicated incompetent under ch. 880 in this state, the guardian of the person appointed under ch. 880 for him or her.

SB391, s. 574 Section 574. 938.345 (1) (e) of the statutes is amended to read:

SB391,246,20 938.345 (1) (e) Place any juvenile not specifically found under chs. 46, 49, 51, 54. or 115 and or ch. 880, 2003 stats., to be developmentally disabled or mentally ill or to be a child with a disability, as defined in s. 115.76 (5), in facilities which that exclusively treat those categories of juveniles.

SB391, s. 575 Section 575. 949.04 (1) (b) of the statutes is amended to read:

SB391,246,24 949.04 (1) (b) Application by an individual adjudicated incompetent may be made on the incompetent's individual's behalf by the guardian or other person authorized to administer the incompetent's individual's estate.

SB391, s. 576 Section 576. 950.02 (4) (a) 5. of the statutes is amended to read:

SB391,247,3 950.02 (4) (a) 5. If a person specified in subd. 1. has been determined to be adjudicated incompetent under ch. 880 in this state, the guardian of the person appointed under ch. 880 for him or her.

SB391, s. 577 Section 577. 968.20 (1m) (a) 1. of the statutes is amended to read:

SB391,247,7 968.20 (1m) (a) 1. "Crime" includes an act committed by a juvenile or by an adult who is adjudicated incompetent adult which that would have been a crime if the act had been committed by a competent adult.

SB391, s. 578 Section 578. 992.08 of the statutes is amended to read:

SB391,247,22 992.08 Evidence as to county lands; minors. Whenever in any action it is material to any party to show that the title to any tract of land is vested in any county, under chapter 132 of the general laws of 1866, by having been bid in for such county for 5 successive years on sales for taxes and that the tract remains unredeemed, the statement of such sales made by the county treasurer, or the record of such statement in the book kept for that purpose in the treasurer's office, or the certificates of such sales executed by the treasurer to the county shall be prima facie evidence of the regularity of the tax proceedings from and including the valuation of any such tract of land up to and inclusive of the sale thereof and of the existence of all conditions precedent in any way affecting the validity of such sales, or requisite to make the title of such land absolutely vest in the county in which the same is situate. This section does not apply to any such lands if it appears that they were owned at the time of the sales by minors or persons individuals who were adjudicated incompetent, insane or mentally ill or were under guardianship.

SB391, s. 579 Section 579 . Nonstatutory provisions.

SB391,248,5 (1) Review of order; involuntary administration of psychotropic medication. For an individual who is subject to an order appointing a guardian under section 880.33 (4m), 2003 stats., and to an order initially issued under section 880.33 (4r), 2003 stats., that is in effect on the effective date of this subsection, the county department of the individual's county of residence shall, no later than 9 months after the effective date of this subsection, review the individual's status under the requirements of section 55.19 of the statutes, as created by this act.