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New Legislation Fiduciary Duty

Segal McCambridge

Fashionably Late or Right On Time: New York’s Fashion Workers Act Heads To The Governor’s For Signature

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The Fashion Workers Act has been passed by the New York Assembly and Senate and is now heading to the Governor’s desk to be signed into law. It’s a comprehensive law that provides additional requirements for clients and...more

WilmerHale

India Passes Long Awaited Privacy Law

WilmerHale on

On August 9, 2023, India passed a data protection law that will govern how entities who process users’ personal data. The Digital Personal Data Protection Act (“the Act”) will establish guardrails for how organizations should...more

Roetzel & Andress

Governor DeSantis Signs Senate Bill Establishing Building Safety Act for Condominium and Cooperative Associations

Roetzel & Andress on

Yesterday, the Governor signed into law Senate Bill 4-D, passed during special legislative session and which is effective upon becoming law. This Bill is a response to the Surfside collapse last year and modifies Florida...more

Winstead PC

Texas Passes A New Law To Punish Elder Financial Abuse

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The Texas Legislature recently enacted a new law that criminalizes the financial abuse of the elderly. This is in response to the increasing financial attacks on the elderly....more

Keating Muething & Klekamp PLL

Revised Ohio LLC Statute

The Ohio Revised Limited Liability Company Act (“LLC Act”) took effect on February 11, 2022, and now governs all limited liability companies formed under Ohio law. The LLC Act replaced Chapter 1705 of the Ohio Revised Code...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New Arizona Law on Union Benefits and Financial Disclosure Obligations Set to Take Effect

In May 2021, the Arizona Legislature passed and Governor Doug Ducey signed Senate Bill (SB) 1268, which imposes stricter reporting requirements on private-sector labor unions by requiring “similar fiduciary guidelines as...more

Quarles & Brady LLP

The New Florida Directed Trust Act

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Florida recently enacted its version of the Uniform Directed Trust Act, which authorizes someone other than the Trustee (referred to as a Trust Director) to direct the Trustee to act or not to act. Florida is 1 of 15 states...more

Fisher Phillips

The Top 20 Non-COVID Workplace Law Stories Of 2020

Fisher Phillips on

That this past year was the most challenging year in your professional life is an almost certainty. You were forced to learn entirely new statutory schemes, absorb new local health directives on a near-daily basis, create a...more

A&O Shearman

Even After Finding Corwin Inapplicable Because Of Alleged Misstatements, Delaware Court Of Chancery Dismisses Post-Merger Damages...

A&O Shearman on

On August 31, 2020, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery dismissed breach of fiduciary duty claims asserted against the directors of USG Corporation by former stockholders following its...more

Polsinelli

Florida Legal Update: Laws of Interest Effective July 1, 2020

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Business Legal Updates - Collegiate Student Athletes Can Now Receive Compensation - With the passing of Section 1006.74, F.S., effective July 1, 2020, intercollegiate athletes at a “postsecondary educational...more

Winstead PC

The Texas Legislature Has Limited Discovery Of A Defendant’s Net Worth For Exemplary Damage Claims

Winstead PC on

Plaintiffs in civil litigation often seek punitive or exemplary damages. “Exemplary damages” means any damages awarded as a penalty or by way of punishment but not for compensatory purposes....more

Groom Law Group, Chartered

SECURE Act and Spending Bills – Impact on Plan Sponsors

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019.  Many of the provisions in the...more

Epstein Becker & Green

What Employers Should Know About the SECURE Act’s Lifetime Income Provisions

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Predictable lifetime income is often of paramount concern to retirees. Yet, as employer-sponsored retirement plans have moved away from the traditional pension plan model, participants in defined contribution plans may be...more

Holland & Hart LLP

Nevada Legislative Update - August 2019

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The Nevada State Legislature’s 80th regular session made history with the first female majority in the nation. This session focused on issues such as healthcare, energy, construction, and employment. ...more

Farrell Fritz, P.C.

Death and Digital Content: Protecting Digital Assets After The Death Of A User

Farrell Fritz, P.C. on

In 2016, the New York Legislature enacted a version of the Uniform Law Commission’s Revised Uniform Fiduciary Access to Digital Assets Act in Article 13-A (“Article 13-A”) of the Estates, Powers and Trusts Law (“EPTL”). ...more

Sunstein LLP

August 2018 IP Update - Non-Competition Agreements: Massachusetts Meets California Halfway

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California has long led the nation in its disdain for noncompetition agreements. Pressed by venture capitalists who believe that this gives California an advantage over other states, the Massachusetts legislature has finally...more

Carlton Fields

Nevada Securities Act Amendments – What’s Next?

Carlton Fields on

Over the summer, much was written about amendments to the Nevada Securities Act provisions governing financial planners, which became effective July 1, after being signed by the Governor on June 2....more

Gray Reed

Returning “Power” to the Power of Attorney

Gray Reed on

A number of years ago John Drane, owner of Drane Plumbing & Supply, executed a Power of Attorney (POA) naming his eldest daughter LaTrina Drane as his attorney in fact. John’s debilitating stroke last weekend risks placing...more

Robinson+Cole Data Privacy + Security Insider

California Passes Revised Uniform Fiduciary Access to Digital Assets Act

On September 24, 2016, the Governor of California approved the California Revised Uniform Fiduciary Access to Digital Assets Act, which “would authorize a decedent’s personal representative or trustee to access and manage...more

Robinson+Cole Data Privacy + Security Insider

California Passes Digital Assets Law

Following in the footsteps of numerous other states, California became the newest state to pass a digital assets bill, which allows individuals to access social media accounts, music accounts, gaming accounts or other digital...more

Proskauer Rose LLP

Wealth Management Update - June 2016

Proskauer Rose LLP on

June Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts The June § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

Dorsey & Whitney LLP

Revised Uniform Fiduciary Access to Digital Accounts Act Adopted by Four States

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With the shift from traditional hard copy paper documents towards electronic records stored Cloud Computing-based software and services (e.g., iCloud, Dropbox, Google Drive, etc.), access to and use of digital assets by...more

Robinson+Cole Data Privacy + Security Insider

Oregon and Wyoming enact model digital assets law

Although numerous states have studied and introduced legislation adopting the Uniform Fiduciary Access to Digital Accounts Act, only three have adopted it thus far. The first was Delaware, which adopted the model digital...more

Proskauer - Privacy & Cybersecurity

Fiduciary Access to Digital Assets and Accounts: Revised Model Statute Adopted in Oregon

Oregon became the first state to adopt the Revised Uniform Fiduciary Access to Digital Assets Act (“Revised UFADAA”) when Governor Kate Brown signed Oregon Senate Bill 1554 into law on March 3, 2016.  The law will become...more

Allen Matkins

California’s New “Thermal Coal” Divestment Law Forces Fiduciary Duty Question

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Public pension funds exist to provide retirement benefits to public employees.  Cal. Const. Art. XVI, § 17(a).  In 1992, the voters of California tried to eliminate political interference with the state’s retirement funds by...more

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