Introduced House Bill (H)

Authored by

DIGEST

Court oversight of certain charitable trusts. Provides for probate court review of the executive compensation provided by a charitable trust engaged in the business of providing utility service. Authorizes certain local officials to petition for the court's review. Provides for annual reporting of proposed executive compensation. Prescribes the court's powers, the review procedures, and the standard of review. Requires the court to determine the compensation of the executive officer or officers for the following calendar year if the court rejects the proposed compensation upon reviewing a revised proposal in a particular year. Provides that the court's determination is conclusive of Court oversight of certain charitable trusts. Provides for probate court review of the executive compensation provided by a charitable trust engaged in the business of providing utility service. Authorizes certain local officials to petition for the court's review. Provides for annual reporting of proposed executive compensation. Prescribes the court's powers, the review procedures, and the standard of review. Requires the court to determine the compensation of the executive officer or officers for the following calendar year if the court rejects the proposed compensation upon reviewing a revised proposal in a particular year. Provides that the court's determination is conclusive of the facts determined by the court subject to the rights of appeal of the trust and the affected executive officer or officers. ... View more