SB 377 (2008): relative to the application of the prudent investor rule to town trust funds.

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@misc{bill-2008-sb377, title = {SB 377 (2008): relative to the application of the prudent investor rule to town trust funds.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2008/sb377}, note = {Accessed 24 Oct. 2026} }

SB 377 (2008)

relative to the application of the prudent investor rule to town trust funds.

  • Status: Signed into law
  • Term: 2007-2008
  • House committee: Municipal and County Government
  • Senate committee: Public and Municipal Affairs
  • Subject: Miscellaneous
  • Chapter law: 264

The Story

It was introduced on January 2, 2008 and referred to the Senate Public and Municipal Affairs committee. The committee held a public hearing on January 15, 2008. The committee recommended that the Senate pass it. On January 23, 2008 the Senate voted to pass it on a voice vote and ordered it to a third reading. It crossed to the House on February 13, 2008 and was referred to the House Municipal and County Government committee. The committee held a public hearing on March 26, 2008. The committee met in executive session on March 27, 2008 to vote on its recommendation. The committee voted unanimously, 15–0, to recommend that the House pass it with changes (amendment 1127h). The committee's amendment (1127h) was adopted on a voice vote on April 16, 2008, changing the text of the bill. On April 16, 2008 the House voted to pass it with changes on a voice vote. On May 21, 2008 the Senate voted to agree to the other chamber's changes on a voice vote, on a motion by Sen. Hassan. The bill was enrolled on June 5, 2008 — the final check of the text before it goes to the governor. The governor signed it on June 30, 2008, making it Chapter 264 of the session laws.

Sponsors

Hearings and Sessions

  • January 15, 2008, 8:30 AM: hearing, Senate Public and Municipal Affairs, LOB 101
  • March 26, 2008, 11:00 AM: public hearing, House Municipal and County Government, LOB 301
  • March 27, 2008, 10:00 AM: executive session, House Municipal and County Government, LOB 301

Votes

  • January 23, 2008, Senate: Ought to Pass — voice vote, passed
  • April 16, 2008, House: Ought to Pass with Amendment #1127h — voice vote, passed
  • May 21, 2008, Senate: Concur with House Amendment{1127} — voice vote, passed

The Docket

  • January 2, 2008: Introduced and Referred to Public and Municipal Affairs
  • January 15, 2008: Hearing; January 15, 2008, Room 101, LOB, 8:30 a.m.; SC2
  • January 17, 2008: Committee Report; Ought to Pass [01/23/08]; SC3
  • January 23, 2008: Ought to Pass, MA, VV; OT3rdg
  • January 23, 2008: Passed by Third Reading Resolution
  • February 13, 2008: Introduced and Referred to Municipal and County Government
  • March 26, 2008: Public Hearing: 3/26/2008 11:00 AM LOB 301
  • March 27, 2008: Executive Session: 3/27/2008 10:00 AM LOB 301
  • April 1, 2008: Committee Report: Ought to Pass with Amendment #1127h for April 16 CC (vote 15-0)
  • April 1, 2008: Proposed Committee Amendment #1127h
  • April 16, 2008: Amendment #1127h Adopted, VV
  • April 16, 2008: Ought to Pass with Amendment #1127h: MA VV
  • May 21, 2008: Sen. Hassan Moved Concur with House Amendment{1127}, MA, VV
  • June 4, 2008: Enrolled
  • June 5, 2008: Enrolled
  • June 30, 2008: Signed by the Governor On 06/26/08; Eff. Date 08/25/08, Chapter 0264

Laws It Would Change

From the General Court