SENATE BILL NO. 155
AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO TRUSTS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Section 1. Amend §924, Title 5 of the Delaware Code by deleting the first sentence of subsection (a)(1) and replacing it in its entirety with the following:
"A ‘beneficiary’ is a natural person, or a non-profit organization (as qualified under Section 501(c)(3) of Title 26 of the U.S. Code), that is described by a depositor as a person for whom a trust account is established and maintained."
Section 2. This act shall be effective upon enactment.
Approved July 10, 2009