Bill
Bill > S1355
MA S1355
Authorizing the investment of trust funds benefiting the town of Sherborn library
summary
Introduced
03/29/2021
03/29/2021
In Committee
07/12/2022
07/12/2022
Crossed Over
12/22/2022
12/22/2022
Passed
12/27/2022
12/27/2022
Dead
Signed/Enacted/Adopted
12/29/2022
12/29/2022
Introduced Session
192nd General Court
Bill Summary
For legislation to authorize the investment of trust funds benefiting the town of Sherborn Library. Municipalities and Regional Government. [Local approval received]
AI Summary
This bill authorizes the treasurer of the town of Sherborn and the treasurer of the Sherborn library trustees to invest any trust funds benefiting the Sherborn library in accordance with the prudent investor rule and with chapter 203C of the General Laws, which provides guidelines for the management of trust funds. This bill overrides any existing laws that may have prohibited such investments, allowing the town and library to potentially earn a higher return on the trust funds to benefit the library.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Signed by the Governor, Chapter 336 of the Acts of 2022 (on 12/29/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/S1355 |
| Bill | https://malegislature.gov/Bills/192/S1355.pdf |
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