LOU LEG Assets Following Death


On Jun. 3, LOU LEG passed bill on deposits and transfers after death.


  • LOU LEG passed bill SB 137, re deposits for customers who expire while out of State.
  • Amends LOU LEG 6-325, LOU LEG 6-653.4, LOU LEG 6-767 and LOU LEG 6-768 in regards to death of a customer or member, and the transfer of assets to successors.
  • Bill Provisions
  • Provides for the transfer of money, property, or other content upon the death of a customer, member, or depositor and provides terms, conditions, and procedures.
  • A bank or CU may grant access to or allow the transfer of contents of a safety deposit box or money or other property titled in the name of the bank's deceased customer.
  • To the succession or estate representative appointed by a court outside of Louisiana.
  • Legislative History
  • On Mar. 11, 2024, bill was introduced in Senate; on Mar. 26, 2024, bill passed Senate.
  • On Mar. 27, 2024, bill was introduced in House; on May 14, 2024, bill passed House.
  • On Jun. 2, 2024, bill was enrolled; on Jun. 3, 2024, bill was delivered to the governor.
  • Effectiveness
  • If enacted, bill becomes effective on Aug. 1, 2024.
  • Jun. 19, 2024 LOU LEG Bill Approval
  • On Jun. 19, 2024, LOU LEG reported bill approved by governor, and became Act 759.

Regulators LOU LEG
Entity Types Bank; CNSM; CU; Fiduciary
Reference Act 759, 6/19/2024; Bill, SB137, 6/3/2024; Citation: *LOU LEG* 6-325, 6-767, 6-653.4, 6-768;
Functions Client Money; Compliance; Financial; Legal; Product Administration
Countries United States of America
Category
State
Products Banking; Deposits; Wealth Mgt
Regions Am
Rule Type Final
Rule Date 6/3/2024
Effective Date 8/1/2024
Rule Id 214530
Linked to N/A
Reg. Last Update 6/19/2024
Report Section US Consumer

Last substantive update on 06/26/2024