Video & Transcript Research : 'fiduciary responsibility'

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HI

Hawaii 2026 Regular Session

GVO Public Hearing 02-03-2026

Government Operations

Transcript Highlights:
  • currently, in trying to get projects done, experience a lot of problems with agencies in getting responses
  • currently, in trying to get projects done, experience a lot of problems with agencies in getting responses
  • currently, in trying to get projects done, experience a lot of problems with agencies in getting responses
  • <00:19:26.240><c> of</c><00:19:26.559><c> certain</c><00:19:26.960><c> state</c> responsibilities of
  • certain state responsibilities of certain state programs.<00:19:28.400><c> Um</c><00:19:28.720><c> first
Summary: The committee heard several government operations measures, beginning with SB 2064 on state construction projects, which would create an office of the state architect within DAGS to oversee design review and approvals for state construction. DAGS said it stood on its written testimony, DECAB supported the bill, DOT supported it, and HGA opposed it. No audience testimony or member questions were taken, and the chair moved on. The committee then took up SB 2312 on government contracts, which would make records held by private contractors performing government functions subject to UIPA. The State Procurement Office, Attorney General, OIP, ERS, DHS, and HGA offered comments or opposition, while the League of Women Voters, Public First Law Center, All Hawaii News, Grassroots, and several individuals supported the bill. Public First Law Center argued the bill closes a loophole and does not expand or reduce existing exemptions, while OIP and others raised concerns about privacy, confidential information, and the need for clearer procedures. Members discussed possible clarifying amendments, including changing “government function” to “agency,” and the bill was left for further consideration. Other measures discussed included SB 2662 on government accountability, which would require justification and caps for external consultants; ERS and DOT opposed it, while the American Council of Engineering Companies of Hawaii and Airlines Committee of Hawaii argued consultants are often more efficient and necessary for major projects. The committee also heard SB 2744 on due process, for which no testimony was received; SB 2809 on budget-related reports, with comments from B&F and the Tax Foundation; SB 2862 on gubernatorial appointments, opposed by the Governor’s Office and the Hawaii Correctional System Oversight Commission and supported by one individual; a bill on continuous legislative sessions, with comments from B&F, LRB, and Hope for Hawaii; SB 2336 on tree management standards, supported by an individual and the Outdoor Circle; and SB 2075 on public procurement local preferences, which drew broad support with comments from SPO and the Attorney General and discussion of simplifying the preference structure. No votes were taken in the excerpt, and the chair repeatedly moved measures along after testimony and questions.
TX

Texas 89th Regular

Business and Commerce (Part I) Feb 18th, 2025

Business & Commerce

Transcript Highlights:
  • reserve will be managed under the same prudent investor standard currently followed today, ensuring responsible
  • Our office is also responsible for the nation's first and only state managed bullion depository.
  • Part of those were questions on regulatory certainty, you know, and so therefore as responsible for stacked
  • and so therefore, you know, I didn't, I didn't think anyone wanted to give up their duties and responsibilities
  • Responsible for any kind of a return on their investment.
AZ

Arizona 2026 Regular Session

06/02/2026 - Senate Ad Hoc Committee on Elder Abuse

Senate Ad Hoc Committee on Elder Abuse

Transcript Highlights:
  • East Valley Fiduciary.
  • What triggered the change to the fiduciary?
  • Finally, he asked the committee to consider one additional principle: when a fiduciary is found responsible
  • She's talking about East Valley Fiduciary Services, which was a fiduciary for the gentleman that spoke
  • for coaching, responsible for accountability.
Summary: The Senate Ad Hoc Committee on Elder Abuse opened by explaining it was gathering testimony on elder abuse, especially alleged misconduct involving court-appointed systems such as guardians ad litem and fiduciaries, to identify gaps in law and oversight and develop legislative fixes. The chair limited each witness’s time, asked for names and contact information for follow-up, and repeatedly noted that some allegations might warrant referral to law enforcement, the attorney general, or county attorneys if basic criminal elements were present. Several witnesses described alleged abuse in guardianship, conservatorship, and fiduciary cases. Dr. Holly Lauder said her mother, who had Alzheimer’s disease, was subjected to allegedly deficient psychological capacity evaluations that ignored treating doctors and family input, leading to a fiduciary arrangement that later resulted in neglect. Kevin Axson described his mother’s probate case, saying a guardian ad litem and conservator were appointed after a family financial dispute, that the guardian ad litem and fiduciary had little contact with his mother, and that the estate was burdened with substantial fees and a $200,000 bond requirement. Frieda Alvarado testified about a 94-year-old client, Samuel Armento, saying he was isolated, medicated without his request, and treated without dignity after a fiduciary and care team took control. Bill Chalmers, Johnny Hamilton, and Kathy Hamilton also testified about Sam Armento’s case, alleging isolation, excessive fees, conflicts of interest, and poor oversight by fiduciaries and caregivers. Other witnesses raised broader concerns about Arizona probate practices. David Redkey said he has been under a long-running conservatorship despite earning degrees and maintaining capacity, and alleged that court-appointed professionals and fiduciaries overcharged his estate and blocked efforts to terminate the arrangement. Susan Wolfe described the Peyton case, alleging that a wife’s conservatorship and related court actions led to the loss of assets, exclusion of witnesses, and large fees for a relatively small monthly care bill. Dr. Lewis Heller, an OB-GYN and disciplinary committee member, said the medical evaluations he reviewed showed the people involved were competent and that the conduct he observed was unethical and possibly criminal. Renee Self testified that she lost her role as trustee and spent large sums defending her father’s estate, alleging that the probate process stripped her father of assets and limited her access to him despite APS findings that her actions were in his best interests. No formal committee votes or legislative actions were taken in the excerpt, but members repeatedly expressed concern, asked for documents and transcripts, and indicated they would follow up with witnesses and consider stakeholder meetings to craft legislation addressing oversight, transparency, and accountability in guardianship and fiduciary systems.
CA

California 2025-2026 Regular Session

Senate Housing Committee Apr 15th, 2026

Housing

Transcript Highlights:
  • SB 866 shifts out responsibility for collecting and reporting chronically homeless.
  • But your response in regards to that?
  • And so having a separate fiduciary responsibility, I don't want to imagine a case in which the board
  • As a realtor, I know about fiduciary duty quite well, and I also understand.
  • As far as the fiduciary duty, Colleagues here and stakeholders here.
Summary: The committee heard SB 866, which would require jurisdictions that do not receive HAP grants to include homelessness data, strategies, and regional coordination in their housing elements. The author and supporters said the bill would close a gap in planning and create more consistent, data-driven local responses to homelessness. Opponents, including the League of California Cities and several cities, argued the bill would impose costly and duplicative reporting requirements on small jurisdictions, require data cities cannot control, and should instead be aligned with existing regional planning processes. Members raised concerns about burden on small cities, but also emphasized the need for statewide, standardized homelessness planning. The committee then heard SB 967, which would allow jurisdictions to count qualifying interim housing toward a portion of their acutely low-income RHNA obligations, with safeguards against double counting and reporting requirements for moved units. Supporters said interim housing is a faster, less expensive way to get people indoors and should be incentivized as a bridge from encampments to permanent housing. Opponents, including housing law experts and advocacy groups, argued the bill would blur the line between temporary shelter and permanent housing, weaken obligations to build deeply affordable housing, and create a two-tier system for the lowest-income Californians. After discussion, the committee passed SB 967 on a due pass motion to Appropriations, with several members voting aye and the bill held on call for absent members. The committee also considered SCR 131, a resolution calling for a coordinated state effort to end unsheltered homelessness and prioritize a broader set of interventions, including interim housing, prevention, and permanent supportive housing. Supporters described unsheltered homelessness as a moral and public health crisis and urged stronger state alignment and funding. One member explained an abstention based on concerns that the resolution’s language could be read as endorsing more funding without clear metrics or evidence of effectiveness. The author said amendments had already narrowed the language and was open to further changes. The resolution was adopted on a motion, with the roll held open for absent members. Finally, the committee heard SB 1238, which would strengthen oversight and transparency for homeowners associations and HOA management companies, including disclosures, reserve-fund protections, and a fiduciary-duty provision. The author and supporters said the bill would protect homeowners from mismanagement and improve financial clarity in common interest developments. Opponents from community manager and HOA groups said managers are administrative agents, not decision-makers, and objected especially to imposing a fiduciary duty to individual homeowners. Members generally supported the bill but flagged the fiduciary-duty issue and reserve-fund language as areas for further review, noting that some amendments had been agreed to and others would be addressed later in the process.
AZ

Arizona 2026 Regular Session

06/02/2026 - Senate Ad Hoc Committee on Elder Abuse

Senate Ad Hoc Committee on Elder Abuse

Transcript Highlights:
  • East Valley Fiduciary.
  • What triggered the change to the fiduciary?
  • When a fiduciary is found responsible for substantial financial abuse or serious ethical violations involving
  • She's talking about East Valley Fiduciary Services, that was a fiduciary for the gentleman that spoke
  • for coaching, responsible for accountability.
Keywords: 1182, all
CA

California 2025-2026 Regular Session

Senate Housing Committee Apr 15th, 2026

Transcript Highlights:
  • SB 866 shifts out responsibility for collecting and reporting chronically homeless.
  • But your response in regard to that?
  • And so having a separate fiduciary responsibility, I don't want to imagine a case in which the board
  • And if they’re in a dual agency relationship, they have a fiduciary duty to both.
  • As a realtor, I know about fiduciary duty quite well, and I also understand.
Summary: The committee heard several housing-related measures. SB 866 by Senator Blakespear would require jurisdictions that do not receive HAP homelessness grants to include homelessness data strategies and regional coordination in their housing elements. Supporters said the bill would close a planning gap and improve transparency and accountability; opponents, including the League of California Cities and several cities, argued it would impose costly, duplicative reporting requirements and ask cities to collect data outside their control. Members raised concerns about burden on small cities and possible amendments for lower-population or low-homelessness jurisdictions, but no final vote was taken because the committee initially lacked a quorum. SB 967, also by Senator Blakespear, would allow qualifying interim housing units to count toward a portion of a jurisdiction’s RHNA obligation for acutely low-income housing, with safeguards against double counting and reporting requirements. Supporters said the bill would incentivize rapid, dignified interim housing and help move people out of encampments; opponents warned it would blur the line between temporary shelter and permanent housing and could reduce pressure to build deeply affordable permanent units. After extensive debate, the committee reached quorum and voted the bill out on a due pass basis to the Senate Appropriations Committee, with members noting continued work on amendments. The committee also considered SCR 131, a resolution calling for a coordinated state effort to end unsheltered homelessness and prioritize a broad range of interventions, including interim housing, permanent supportive housing, and prevention. Supporters emphasized the scale and urgency of unsheltered homelessness and the need for clearer state goals and funding. One member said the resolution’s language was too broad and abstained, but the author agreed to consider wording changes. The resolution was adopted on a roll call vote and held on call for absent members. Finally, SB 1238 by Senator Wahab would increase oversight and transparency for homeowners associations and HOA managers, including disclosures, reserve-fund rules, and a proposed fiduciary-duty standard. Realtors and homeowner supporters backed the bill as a way to improve accountability, while community-manager groups opposed the fiduciary-duty provision and raised concerns about litigation and insurance costs. Members discussed the reserve-fund language and fiduciary-duty issue, noting that further changes would be considered in the Judiciary Committee; the bill was not yet voted on in this hearing.
AZ

Arizona 2026 Regular Session

02/09/2026 - Senate Finance

Finance

Transcript Highlights:
  • The bill prohibits a fiduciary of a pension benefit plan, Arizona, the bill prohibits a fiduciary of
  • If the fiduciary votes are inconsistent with the share issuer, then in order If the fiduciary votes are
  • because the law says we're the fiduciaries.
  • And our pension funds are guided by laws about their fiduciary responsibilities.
  • But this bill... ...laws about their fiduciary responsibilities, but this bill would bring politics into
MN

Minnesota 2025-2026 Regular Session

Conference Committee on HF3900 5/13/26

Transcript Highlights:
  • You have a fiduciary duty.
  • You have a fiduciary duty.
  • Which that fiduciary fiduciary duty.
  • Where was the fiduciary duty then?
  • </c> comment about we have a fiduciary duty. comment about we have a fiduciary duty.
Keywords: 919, house, all
Summary: The conference committee on House File 3900 met with a quorum, introduced members and staff, and received a nonpartisan walkthrough of the bill. Staff explained that the proposal would change the permanent school fund’s distribution formula from interest and dividends to a statutory payout based on 4.5% of the fund’s average value over the previous three fiscal years, with the Commissioner of Management and Budget responsible for determining and transferring the distributable amount. The Senate version differed by adding language requiring a two-thirds vote of each legislative house to change the distribution policy or apportionment. Members then debated whether a future legislature could increase the payout and whether the constitutional language would sufficiently protect the fund’s purchasing power. Senator Farnsworth argued that a supermajority requirement would help prevent politicization and lock in the fund’s purpose, while Representative Long, Senator Kunesh, Representative Youakim, and Representative O’Driscoll opposed the supermajority as unnecessary and potentially politicizing, emphasizing existing constitutional protections, fiduciary duties, and the legislature’s track record of stewarding school trust lands for students. Staff indicated the language requiring preservation of purchasing power would be a strong safeguard, though the exact legal remedy was unclear. Senator Kunesh moved to adopt the House File 3900 second engrossment as the conference committee report. The committee took a roll call vote and approved the motion 7-1, with Senator Farnsworth voting no. After the vote, Senator Swedzinski offered brief remarks about the historical importance of school trust funds and public education.
CA

California 2025-2026 Regular Session

Senate Housing Committee Apr 15th, 2026

Housing

Transcript Highlights:
  • SB 866 shifts out responsibility for collecting and reporting chronically homeless.
  • But your response in regards to that?
  • And so having a separate fiduciary responsibility, I don't want to imagine a case in which the board
  • And if they're in a dual agency relationship, they have a fiduciary duty to both.
  • As a realtor, I know about fiduciary duty quite well, and I also understand.
Keywords: 987, senate, all
US

US Federal 2025-2026 Regular Session

US House Floor Proceedings (Thursday, January 15, 2026)

US Federal House Floor Meeting

Transcript Highlights:
  • </c><00:12:50.800><c> use</c> It also addresses how fiduciaries use It also addresses how fiduciaries
  • . fiduciaries. fiduciaries.
  • </c><00:20:12.160><c> My</c> decisionmaking by fiduciaries. My decisionmaking by fiduciaries.
  • more fiscally responsible for the type of long-term investments managed by retirement plan fiduciaries
  • </c> quick response during the incident. quick response during the incident.
LA

Louisiana 2026 Regular Session

Civil Law and Procedure Apr 22nd, 2026

Civil Law and Procedure

Transcript Highlights:
  • We came to you a couple years ago with a bill in response to that resolution, and you had some feedback
  • Child custody and visitation decisions are among the most consequential responsibilities entrusted to
  • It focuses solely on child custody and visitation, which is exactly where the state's responsibility
AZ

Arizona 2026 Regular Session

02/02/2026 - Senate Finance

Finance

Transcript Highlights:
  • And part of that responsibility of being elected is to pass fiduciary items.
  • counties experience high levels of construction and development, and the assessors must retain responsibility
  • that's why we need the annual inspections to check and make proper valuation annually, because we're responsible
TX
Transcript Highlights:
  • And right now, the families of the fallen troopers are responsible for the cost.
  • The changes ensure the fund remains fair, sustainable, and responsive to the people who have earned it
  • They were responsible for building the facility.
  • Responsibility doesn't seem to know how they're going to execute a majority of this.
  • And we have a responsibility to use it.
KY
Transcript Highlights:
  • It didn't get time for another hearing, but it provides for codified fiduciary standard, purchasing fiduciary
  • So we don't have a codified fiduciary standard. We're rolling on a prudent man standard.
  • The fiduciary liability we already buy fiduciary liability insurance.
  • </c> straightforward uh the fiduciary straightforward uh the fiduciary liability<00:28:08.200><c> we<
  • already buy fiduciary liability we already buy fiduciary liability<00:28:10.039><c> insurance</c><00
Summary: The Senate Standing Committee on State and Local Government heard testimony on Senate Bill 10, which would revise CERS retiree health subsidies for members who began participating on or before July 1, 2003. Senator Mills said the bill was developed with employee and employer groups to improve retiree health benefits while protecting the system’s financial footing, using a shared-cost structure. Testimony from sheriffs, police chiefs, firefighters, and the League of Cities strongly supported the bill, emphasizing recruitment and retention, affordability of retiree health coverage, and limited taxpayer risk. Members echoed those points, and the committee approved SB 10 with a 9-0 favorable recommendation. The committee then took up Senate Bill 65, sponsored by Senator West, which would codify the Administrative Regulations Committee’s annual practice of placing certain deficient regulations into statute so they cannot take effect. West explained that the committee’s role is limited to finding regulations deficient or asking for deferral, and that SB 65 is the fifth version of this measure. He described the specific regulation at issue as a Medicaid Services rule that would have required behavioral health associates to hold a master’s degree; providers testified that it would reduce the workforce and harm behavioral health services statewide. West said the committee had deferred the matter eight times before deciding to side with providers. The bill received favorable expression and was reported out. Finally, the committee heard Senate Bill 104, sponsored by Senator Madon, concerning Kentucky Deferred Comp for state employees. The bill would establish a codified fiduciary standard, authorize fiduciary liability insurance, add self-correcting mechanisms to keep the plan in compliance with federal law, and allow self-directed brokerage accounts. Personnel Cabinet representatives said the changes would align the plan with other public pension plans, reduce risk, and offer participants a useful investment option with strong account growth among users. SB 104 also received favorable expression and was reported to the floor. The committee then adjourned.
TX

Texas 89th 2nd C.S.

Judiciary & Civil Jurisprudence May 14th, 2025

Judiciary & Civil Jurisprudence

Transcript Highlights:
  • This bill, Senate Bill 1015, would explicitly designate the comptroller as the entity responsible for
  • The chair recalls Senate Bill 942 from the Subcommittee on Family and Fiduciary...
  • The chair recalls Senate Bill 1448 from the Subcommittee on Family and Fiduciary Relationships.
  • The chair recalls Senate Bill 1536 from the Subcommittee on Family and Fiduciary Relationships.
  • The chair recalls Senate Bill 387 from the Subcommittee on Family and Fiduciary Relationships.
Bills: SB1015, SB2933
Summary: The Committee on Judiciary and Civil Jurisprudence heard testimony on Senate Bill 1015, which would clarify that the comptroller is responsible for distributing excess judicial fund payments back to statutory probate courts. Judge Guy Herman testified in support, saying the bill would help ensure probate courts receive funding they are entitled to, while Ed Heimlich testified against the bill with broad criticism of probate courts and judicial practices. The committee then heard Senate Bill 2933, which would add elder abuse training to required judicial education for several categories of judges and judicial officers; Dr. Bruce Hargrave supported the bill, citing the prevalence and underreporting of elder abuse and the need for judges to recognize warning signs. No votes were taken on either of those bills, and SB 2933 was left pending. The committee then reconsidered Senate Bill 38, an eviction-related bill, and Vice Chair Hayes described two agreed floor amendments: one limiting the summary disposition procedure to forcible entry and detainer cases involving squatters, and another requiring a notice to pay rent or vacate for tenants who had been timely payers but missed a payment. After discussion, the committee voted 6-4 to report SB 38 without amendments. The committee also adopted or advanced a series of other bills and resolutions, including SB 293, SB 1141, SB 1448, SB 1536, SB 1558, SB 1838, SB 1940, SB 2127, SB 53, SB 251, SB 311, SB 387, SB 441 (with a substitute), SB 1164, SB 1335, SB 1574 (with a substitute), SB 1719, SB 1760, SB 1839, SB 1923 (with a substitute), SB 2807, and SJR 27 (with a substitute). Most measures were reported favorably on largely party-line or near-unanimous votes, with a few close votes on SB 942, SB 311, SB 2807, and SJR 27. SB 942, relating to retroactive child support beginning at conception, initially failed 5-5 but was reconsidered and then passed 6-5. The committee adjourned after completing its agenda.
MN

Minnesota 2025-2026 Regular Session

Senate Floor Session - Part 3 - 05/16/26

Minnesota Senate Floor Meeting

Transcript Highlights:
  • </c> are responsible to our students. are responsible to our students.
  • When it comes to fiduciary duty.
  • It is our fiduciary duty. We have a strict legal and ethical responsibility.
  • </c><03:04:44.240><c> here</c> we do have this responsibility here we do have this responsibility here
  • The responsibilities are expanded.
Keywords: 1187, senate, all
LA

Louisiana 2026 Regular Session

Commerce Mar 30th, 2026

Commerce

Transcript Highlights:
  • That's basic responsibility.
  • It is a response to an issue highlighted in a court case, Doe v.
  • So legally, it made sense because fiduciaries have a responsibility to maximize the investment in their
  • Everybody has a fiduciary duty to vote their shares.
  • So it's going to be a different emergency response plan.
LA

Louisiana 2026 Regular Session

Commerce Mar 30th, 2026

Commerce, Consumer Protection, and International Affairs

Transcript Highlights:
  • That's basic responsibility. Or repair it, excuse me, that's basic responsibility.
  • It is a response to an issue highlighted in a court case, Doe v.
  • So legally, it made sense because fiduciaries have a responsibility to maximize the investment in their
  • Everybody has a fiduciary duty to vote their shares.
  • At the same time, we have a responsibility.
Summary: The committee first took up House Bill 750 by Rep. Cox, the “Click to Cancel Act,” regulating automatic renewal contracts. After adopting technical and substantive amendments, members discussed easier cancellation methods, reduced notice requirements, shorter record-retention periods, a 30-day cure period, small-business exemptions, and limiting damages to actual damages. The bill drew support from consumer advocates and opposition cards from industry groups, and it was reported favorably as amended. House Bill 259 by Rep. DeWitt addressed damage to underground infrastructure during BEAD-funded broadband excavation projects, requiring notice before digging and making contractors repair or pay for damage before final payment is released. An amendment added pre-construction coordination, a point of contact, and fault-based liability language. Members discussed rural utility damage, broadband buildout, and the need to protect small water systems; the bill was reported favorably as amended. The committee then considered HB 220 by Rep. Schlegel, which requires covered platforms to maintain an easy-to-use reporting mechanism for child sexual abuse material and exploitation. After technical and clarifying amendments, the sponsor and members discussed scope, nonprofit and small-business exclusions, AG enforcement discretion, and concerns about clear-and-conspicuous placement. The bill was reported favorably as amended. Next, HB 830 by Rep. Wright required proxy advisors to disclose when anti-management recommendations are not based on written financial analysis and to provide that analysis when it exists. After amendments excluding certain affiliates and 501(c)(3) charities, the sponsor and a witness argued the bill was about transparency and fiduciary duty, while LASERS testified in opposition, saying the measure could make proxy advice unavailable and create a hardship for its internally managed portfolio. The bill was nonetheless reported favorably as amended. The committee also advanced HB 463 by Rep. McMakin, which raises the maximum local 9-1-1 service charge from $1.25 to $2.00, with an amendment requiring annual reporting and local governing authority approval; testimony explained the funding need for Next Generation 9-1-1, and the bill was reported favorably as amended. Finally, the committee began HB 536 by Rep. Coates on wireless communication facilities near schools. After adopting technical and then lengthy substantive amendments narrowing the school proximity zone, adjusting setbacks, adding co-location and permit timing provisions, and clarifying uniform application, members raised concerns about whether the bill duplicated existing safety standards, could delay deployment, and whether it would apply only to new towers. The sponsor and a parent witness emphasized school safety and emergency planning, but discussion remained ongoing when the transcript ended.
TX

Texas 89th 2nd C.S.

89th Legislative Session Mar 14th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • Exclusive jurisdiction is transferred for the for the subcommittee on Family and fiduciary Relationships
  • Refer the subcommittee on Family and Fiduciary Relationships.
  • order on a person found on the committing family violence or for the subcommittee on Family and fiduciary
  • Refer to the Subcommittee on Family and Fiduciary.
  • HB 2127 by Bryant Rulington study of electricity demand responsible for the Committee on state affairs