On Mar. 25, 2025, UTA LEG governor approved bill SB 233, effective May 7, 2025.
On Mar. 7, UTA LEG passed bill on transferring a beneficiary's interest.
UTA LEG passed bill SB 233, making amendments to Utah uniform probate code.
Creates UTA LEG 75-3-9-918, regarding distribution of interest in a decedent's estate.
Bill Provisions
Enacts within the Utah uniform probate code a separate process for transferring a beneficiary's interest that is purchased by a third party in certain circumstances.
Provides process for transfer and requirements for written agreements to purchase a beneficiary's interest; provides for an optional hearing in relation to the transfer.
The bill also provides penalty for instance of a willful violation of the transfer process.
Legislative History
On Feb. 6, 2025, bill was introduced in Senate; on Feb. 24, 2025, bill passed Senate.
On Feb. 24, 2025, bill was introduced in House; on Mar. 6, 2025, bill passed House.
On Mar. 7, 2025, bill received from Senate for enrolling, draft of enrolled bill prepared.
Effectiveness
Upon approval, provisions of the bill come into effect May 7, 2025.
Mar. 25, 2025 UTA LEG Governor Approval
On Mar. 25, 2025, UTA LEG governor approved bill SB 233, effective May 7, 2025.
Regulators
UTA LEG
Entity Types
CNSM; Fiduciary
Reference
Act, 3/25/2025; Bill SB0233, 3/7/2025; Citation: UTA LEG 75-3-9;
