summary
Introduced
06/15/2021
06/15/2021
In Committee
11/10/2021
11/10/2021
Crossed Over
04/25/2022
04/25/2022
Passed
04/28/2022
04/28/2022
Dead
Signed/Enacted/Adopted
05/20/2022
05/20/2022
Introduced Session
192nd General Court
Bill Summary
Relative to investment of certain trust funds in the town of Weston. Municipalities and Regional Government. [Local Approval Received.]
AI Summary
This bill allows the town of Weston to invest its trust funds in accordance with the prudent investment rule under Chapter 203C of the Massachusetts General Laws, rather than the more restrictive requirements of Section 54 of Chapter 44. It also authorizes the town's commissioners to employ qualified financial advisors to assist with the investment of the trust funds, and allows the use of trust monies to pay for these advisory services, subject to procurement requirements for expenses over $50,000. The bill takes effect upon passage.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Signed by the Governor, Chapter 57 of the Acts of 2022 (on 05/20/2022)
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/H3894 |
| Bill | https://malegislature.gov/Bills/192/H3894.pdf |
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