Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Chapter 203A of the General Laws is hereby amended by striking out section 3, as appearing in the 1986 Official Edition, and inserting in place thereof the following section:-

Section 3. An account of the administration of each common trust fund and a copy of the annual financial report of the fund shall be filed annually in the registry of probate in which the declaration of trust has been filed. A fiduciary may file an application for allowance of any such account, but shall not be required to file such application unless ordered by said probate court on motion of any interested party to such account or on motion of the court. Application for allowance of any such account shall be made in accordance with section twenty-four of chapter two hundred and six. The allowance of any such account shall be conclusive as to all matters shown therein upon all persons then or thereafter interested in the funds invested in said common trust fund.