Bank Property of Deceased Account Holders
Summary
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.
Bill status
signed
all 5 stages cleared
Introduction
Jan 2020
Committee Review
Mar 2020
House Passage
Feb 2020
Senate Passage
Mar 2020
Signed into Law
Jun 2020
Introduced Jan 14, 2020
Signed Jun 27, 2020
Floor votes · Senate Mar 11, 2020 · House Feb 26, 2020
How they voted
20–0
Passed
Total votes 20
Mar 11, 2020
D
Democratic12
100% Yea
R
Republican8
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
33
Key actions
9
Committee
9
Jun 27, 2020
Signed into law
Approved by Governor
legislature
Mar 11, 2020
Upper · Passed
CS passed; YEAS 40 NAYS 0
upper
Mar 5, 2020
Committee
Referred to Banking and Insurance; Judiciary; Rules
upper
Feb 26, 2020
Lower · Passed
CS passed; YEAS 115 NAYS 0
lower
Feb 13, 2020
Lower · Passed
CS/CS by- Commerce Committee; YEAS 20 NAYS 0
lower
Feb 11, 2020
Lower · Passed
On Committee agenda-- Commerce Committee, 02/13/20, 9:00 am, Webster Hall
lower
Jan 31, 2020
Lower · Passed
Now in Commerce Committee
lower
Jan 31, 2020
Committee
CS referred to Commerce Committee
lower
Jan 31, 2020
Lower · Passed
Original reference(s) removed: Civil Justice Subcommittee
lower
Jan 28, 2020
Lower · Passed
CS by Insurance and Banking Subcommittee; YEAS 15 NAYS 0
lower
Jan 24, 2020
Lower · Passed
On Committee agenda-- Insurance and Banking Subcommittee, 01/28/20, 3:30 pm, Sumner Hall
lower
Jan 17, 2020
Committee
Referred to Insurance and Banking Subcommittee; Civil Justice Subcommittee; Commerce Committee
lower
Jan 14, 2020
Introduced
Introduced
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Clay Yarborough
RRepublican
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