House Bill No. 455, introduced by Representative Riser, aims to prevent beneficiaries from receiving financial proceeds from accounts such as certificates of deposit, mutual funds, individual retirement accounts, and pension plans if they are found to be involved in the unjustifiable killing of the account holder. The bill enacts a new section, R.S. 6:339, which stipulates that a beneficiary, assignee, or payee will be disqualified from receiving any benefits if they are held criminally responsible or judicially determined to have participated in the intentional killing of the account holder.

In cases where a beneficiary is disqualified, the bill specifies that the proceeds, funds, or distributions will be directed to a secondary or contingent beneficiary, provided they are not similarly disqualified. If no eligible secondary or contingent beneficiary exists, the funds will then be allocated to the estate of the account holder. This legislation seeks to ensure that individuals who commit serious crimes against account holders do not benefit financially from their actions.