Tennessee Senate Bill SB0895

Tennessee 2023-2024 Regular Session

• Introduced: 1/31/23

Caption

AN ACT to amend Tennessee Code Annotated, Title 30; Title 34; Title 35 and Title 40, relative to persons serving in a fiduciary role.

Impact

The proposed amendments are expected to impact the legal landscape surrounding fiduciary duties significantly. By removing references to misdemeanor convictions as grounds for disqualification, the bill would likely enhance the pool of individuals eligible to serve in such capacities. This change may encourage more individuals to take up essential fiduciary roles without the fear of being disqualified over relatively minor offenses. Moreover, it addresses concerns around fairness and the idea of rehabilitation, acknowledging that past misdemeanors should not indefinitely bar competent individuals from contributing to fiduciary responsibilities.

Summary

Senate Bill 0895 is an act designed to amend several sections of the Tennessee Code Annotated, specifically those relating to individuals serving in fiduciary roles. The amendments focus on clarifying and refining the legal language regarding disqualifications due to convictions. This legislation aims to ensure that those serving in fiduciary capacities are not automatically disqualified based on minor legal offenses, thereby making it easier for such individuals to fulfill their roles effectively. The bill includes the removal of specific language regarding misdemeanors, which indicates a shift toward a more lenient view on the issues of criminal convictions affecting fiduciary roles.

Contention

While the bill seems to promote inclusivity in fiduciary roles, it is important to note that it may raise some concerns among critics who fear that reduced disqualification standards could undermine trust in fiduciary relationships. Stakeholders may debate the potential implications for accountability in fiduciary responsibilities, especially regarding individuals with previous criminal records. The balance between allowing broader access to fiduciary positions and ensuring that those in such roles are trustworthy and reliable is likely to be a point of discussion as the bill progresses through the legislative process.