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Sponsors
Senator · Senate District 42
No co-sponsors yet.
History
- Substituted by A9055
- Advanced to third reading
- 2nd report cal.
- 1st report cal.522
- Referred to judiciary
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Makes technical correction to provisions granting jurisdiction to surrogate's court over actions taken pursuant to the uniform transfers to minors act
Signed by Governor · Sponsor David Buchwald
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's 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Amends Surrogate's Court Procedure Act section 1724 by replacing the reference to the repealed sections of the Estates Powers and Trusts Law (sections 7-4.1 to 7-4.9) which referred to the Uniform Gifts to Minors Act with a reference to the sections of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 See, repealed sections EPTL § 7-4.1 to 7-4.9. UGMA was repealed (1997 N.Y. Laws 535) and replaced by Uniform Transfers to Minors Act ("UTMA") (1996 N.Y. Laws 304).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 Therefore, UGMA was repealed the following year and UTMA was made applicable to existing UGMA accounts.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 Despite this change; SCPA section 1724 still remains with the reference to the now repealed sections of the EPTL.
Arguably, the purpose of SCPA section 1724 is largely superseded by EPTL section 7-6.2 which details and defines the scope and jurisdiction of UTMA.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.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.