Protecting charitable organizations and ensuring the timely and secure transfer of property designated to them.

This bill requires financial institutions to notify charitable organizations within 10 business days when they are named as beneficiaries in life insurance policies, retirement accounts, or other nonprobate transfers. Charities can claim property using a simplified affidavit (requiring basic documents like an IRS letter and death proof) without providing personal details about staff, such as Social Security numbers or home addresses. Institutions are barred from delaying transfers, demanding unnecessary account openings, or requiring simultaneous claims from multiple beneficiaries. The law ensures prompt, secure property transfers to charities while allowing them to sue for penalties if institutions fail to comply.