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 representative, as appointed by a court in this state or any other state. The bill also specifies that a judgment of possession or court order recognizing the heirs or legatees of the deceased's estate will serve as proper authority for such transfers.

Key amendments include the addition of provisions that explicitly allow credit unions to grant access to or transfer property to estate representatives, as well as 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)