SECURITIES: Provides relative to administration of transfer on death accounts. (8/1/26)

SB 262 establishes clear rules for "transfer on death" (TOD) accounts in Louisiana, directly affecting account owners, financial institutions (like banks and credit unions), and named beneficiaries. The bill requires that beneficiaries be designated **in person at a financial institution's office** (not electronically or via power of attorney) to ensure validity, and states that TOD accounts override wills or estate claims regarding the funds. It also protects financial institutions from liability when transferring funds to the named beneficiary, provided the designation followed these rules. The bill repeals outdated sections of law to align with these new provisions.