The bill, SB 137, aims to clarify and expand the provisions regarding the access and transfer of property held by banks and credit unions for deceased customers. It allows for the transfer of contents from safety deposit boxes and other property titled in the name of a deceased member or depositor to their succession or estate representatives, regardless of whether the representative is appointed by a court in Louisiana or another state. The bill also specifies that a judgment of possession or court order from a competent jurisdiction, recognizing the legatees or heirs of the deceased, will serve as sufficient authority for banks and credit unions to transfer assets to those entitled.

Key amendments include the addition of provisions that allow credit unions to grant access to or transfer property to estate representatives, and the removal of the requirement for certification of letters or judgments according to the Acts of Congress. Instead, the bill stipulates that such documents must be certified according to the law of the jurisdiction where they were rendered. The effective date for these changes is set for August 1, 2024.

Statutes affected:
SB137 Original: 6:325(B), 6:767(C), 6:768(B)
SB137 Engrossed: 6:325(B), 6:767(C), 6:768(B)
SB137 Reengrossed: 6:325(B), 6:767(C), 6:768(B)
SB137 Enrolled: 6:325(B), 6:4(B), 6:767(C), 6:768(B)
SB137 Act 759: 6:325(B), 6:4(B), 6:767(C), 6:768(B)