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CS/CS/HB 1439: Bank Property of Deceased Account Holders

GENERAL BILL by Commerce Committee ; Insurance and Banking Subcommittee ; Yarborough

Bank Property of Deceased Account Holders; Authorizes financial institution to pay funds on deposit in certain accounts to specified family member of decedent without court proceeding, order, or judgment; requires family member to provide certified copy of decedent's death certificate & specified affidavit to receive funds; specifies that person does not have right or cause of action against financial institution for taking or failing to take certain actions; provides liability for family member who withdraws funds; authorizes financial institution to provide copies of affidavit to certain persons; provides that specified types of personal property are not subject to probate administration or formal proceedings; requires certain actions relating to decedent's creditors; provides bona fide purchasers protection from specified claims of creditors & from rights of spouses, beneficiaries, & heirs of decedents; provides limitation on liability of decedent's estate & recipients of estate.

Effective Date: 7/1/2020
Last Action: 2/20/2020 House - Placed on Special Order Calendar, 02/26/20
Bill Text: PDF



Bill History

Date Chamber Action
1/14/2020 House • Filed
• Introduced -HJ 128
1/17/2020 House • Referred to Insurance and Banking Subcommittee; Civil Justice Subcommittee; Commerce Committee -HJ 402
1/24/2020 House • On Committee agenda-- Insurance and Banking Subcommittee, 01/28/20, 3:30 pm, Sumner Hall
1/28/2020 House • CS by Insurance and Banking Subcommittee; YEAS 15 NAYS 0 -HJ 472
1/30/2020 House • Pending review of CS under Rule 7.18(c) -HJ 472
• CS by Insurance and Banking Subcommittee read 1st time -HJ 470
1/31/2020 House • Original reference(s) removed: Civil Justice Subcommittee
• CS referred to Commerce Committee -HJ 476
• Now in Commerce Committee -HJ 476
2/11/2020 House • On Committee agenda-- Commerce Committee, 02/13/20, 9:00 am, Webster Hall
2/13/2020 House • CS/CS by- Commerce Committee; YEAS 20 NAYS 0 -HJ 585
2/17/2020 House • Pending review of CS -under Rule 7.18(c)
2/18/2020 House • Placed on Calendar -HJ 584
• CS/CS by Commerce Committee read 1st time -HJ 584
2/20/2020 House • Placed on Special Order Calendar, 02/26/20