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Bill

HB 1527

TO AMEND THE PERMISSIBLE INVESTMENTS A GUARDIAN OF THE ESTATE MAY MAKE ON BEHALF OF A WARD.

2025 Regular Session Introduced by Jimmy Gazaway and 2 co-sponsors

Act 315 allows guardians in Arkansas to invest in the Arkansas Brighter Future Fund without court approval, enhancing financial management for wards' estates.

Notification that HB1527 is now Act 315
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Bill Summary · HB 1527

Summary of House Bill 1527 (Act 315)

Purpose and Intent

House Bill 1527, now known as Act 315, aims to amend the permissible investments that a guardian of the estate can make on behalf of a ward in the state of Arkansas. The bill seeks to expand the investment options available to guardians, thereby enhancing the financial management of a ward's estate.

Key Provisions

The primary provision of HB 1527 includes the following amendment to Arkansas Code § 28-65-311(c)(1):

  • Addition of Investment Option: The bill adds a new subdivision that allows guardians to invest in an Arkansas Brighter Future Fund Plan. This fund is established under the Arkansas Brighter Future Fund Plan Act (§ 6-84-101 et seq.).

This change permits guardians to make investments in this specific fund without requiring a court order, thereby streamlining the investment process for the estates they manage.

Affected Parties

The bill impacts several groups:

  • Guardians of the Estate: Individuals appointed to manage the financial affairs of a ward will have more flexibility in their investment choices.
  • Wards: Individuals under guardianship will potentially benefit from improved investment strategies, which could enhance the growth of their estate.
  • Arkansas Brighter Future Fund: The fund itself may see increased participation and investment from guardians, contributing to its growth and stability.

Legislative Timeline

  • Introduced: February 19, 2025
  • Passed by House: February 26, 2025
  • Passed by Senate: March 12, 2025
  • Enrolled and Transmitted to Governor: March 13, 2025
  • Notification of Act 315: March 18, 2025

The bill moved swiftly through the legislative process, receiving bipartisan support and passing through various committees before being signed into law.

Conclusion

House Bill 1527 (Act 315) represents a significant update to the investment options available to guardians of the estate in Arkansas. By allowing investments in the Arkansas Brighter Future Fund Plan, the legislation aims to enhance the financial management of wards' estates, ultimately benefiting those under guardianship.

Compiled from official sources — confirm details with the bill’s official record.

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