HOUSE BILL NO. 1924 103RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE REUTER.
3980H.01I JOSEPH ENGLER, Chief Clerk
AN ACT To amend chapter 461, RSMo, by adding thereto one new section relating to charitable organizations as named beneficiaries.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 461, RSMo, is amended by adding thereto one new section, to be 2 known as section 461.900, to read as follows: 461.900. 1. This section shall be known and may be cited as the "Charitable 2 Organizations Privacy Protection Act". 3 2. For purposes of this section, the following terms mean: 4 (1) "Beneficiary designation", a provision in an instrument designating a 5 beneficiary, other than in a will or an instrument creating a trust, and may also mean 6 the instrument itself including, but not limited to, the following: 7 (a) An annuity or insurance policy; 8 (b) An account with a designation for payment on death; 9 (c) A security registered in beneficiary form; 10 (d) A pension, profit-sharing, retirement, or other employment-related benefit 11 plan; and 12 (e) Any other nonprobate transfer at death; 13 (2) "Charitable organization", an organization with a charitable purpose that 14 does business in this state or holds property in this state and is described in section 501 15 (c)(3) of the Internal Revenue Code as being exempt from taxation under section 501(a) 16 of the Internal Revenue Code;
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HB 1924 2
17 (3) "Charitable purpose", a purpose described in section 501(c)(3) of the 18 Internal Revenue Code, or a benevolent, educational, philanthropic, humane, scientific, 19 patriotic, social welfare or advocacy, public health, environmental conservation, civic, 20 or other eleemosynary objective. 21 3. If a charitable organization is a beneficiary of an interest in property created 22 by beneficiary designation, the charitable organization may present an affidavit to the 23 holder of the property or to any person with information about the property for the 24 purpose of obtaining the property or information regarding the property. The affidavit 25 shall state the following: 26 (1) The decedent's name and last known address; 27 (2) A general description of the property to the extent known; 28 (3) The charitable organization's name, address, and primary contact 29 information; 30 (4) That the charitable organization is a charitable organization as defined in 31 this section; 32 (5) A request that the property be paid or transferred to the charitable 33 organization or that information about the property be given to the charitable 34 organization; 35 (6) That no one other than the charitable organization has a right to the interest 36 in the property listed in the affidavit; 37 (7) That the affidavit has been signed by a duly authorized representative of the 38 charitable organization under penalty of perjury before a notary public as provided in 39 chapter 486; and 40 (8) That the information in the affidavit is true and correct. 41 4. The affidavit shall be accompanied by the following: 42 (1) A copy of the charitable organization's determination letter from the 43 Internal Revenue Service recognizing its tax-exempt status; 44 (2) A copy of the charitable organization's certificate of good standing issued by 45 the secretary of state as conclusive evidence that the domestic or foreign corporation is 46 in good standing; 47 (3) A statement that on information or belief of the affiant, the property owner is 48 deceased supported by a death certificate of the decedent, or probate notice published 49 by the personal representative of the decedent's estate, or proof of payment of the 50 decedent's funeral expenses, or the decedent's obituary as verification of the decedent's 51 death; 52 (4) A corporate resolution or similar statement of authority of the affiant to act 53 on behalf of the charitable organization; and HB 1924 3
54 (5) Federal Internal Revenue Service form W-9 completed by an authorized 55 representative of the charitable organization. 56 5. The holder of the property shall not request any additional personal 57 information from any individual employed by or serving on the board of the charitable 58 organization including, but not limited to, the following: 59 (1) Social security number or driver's license number; 60 (2) Contact information; or 61 (3) Personal financial information. 62 6. If the requirements of subsections 3 and 4 of this section are satisfied, the 63 following apply: 64 (1) The decedent's property shall be paid, delivered, or transferred to or for the 65 benefit of the charitable organization if the affidavit has requested the transfer of 66 ownership of the property to the charitable organization; 67 (2) A transfer agent of a security described in the affidavit shall change 68 reqistered ownership on the books of the corporation from the decedent to or for the 69 benefit of the charitable organization if the affidavit has requested the transfer of 70 ownership of the property to the charitable organization; and 71 (3) The information requested in the affidavit shall be delivered to the 72 organization. 73 7. The holder of the property and any person who in good faith delivers the 74 property or information requested in reliance on information a charitable organization 75 provides under this section, who has no knowledge that representations contained in the 76 affidavit are incorrect, shall not be liable to any person for so acting and may assume 77 without inquiry the existence of the facts contained in the affidavit. The time to verify a 78 charitable organization's authority shall not exceed thirty days from the date of delivery 79 of the affidavit. Any right or title acquired from the charitable organization in 80 consideration of the provision of property or information under this section is not 81 invalid in consequence of misapplication by the charitable organization. A transaction 82 and a lien created by a transaction entered into by the charitable organization and 83 anyone acting in reliance on the affidavit under this section is enforceable against the 84 property the charitable organization has requested. 85 8. If the holder of the property refuses to provide the requested property or 86 information within thirty days after receiving the affidavit, the charitable organization 87 may bring an action against the holder of the property to recover the property or receive 88 the information or to compel the delivery of the property. An action brought under this 89 section shall be brought within one year after the date of the act or failure to act. If the 90 court finds that the holder of the property acted unreasonably in failing to deliver the HB 1924 4
91 property or information as requested in the affidavit, the court may award to the 92 charitable organization any or all of the following: 93 (1) Damages sustained by the charitable organization; 94 (2) Costs of the action; 95 (3) A penalty in an amount determined by the court between five hundred 96 dollars and ten thousand dollars; and 97 (4) Reasonable attorney's fees based on the value of the time reasonably 98 expended by the charitable organization's attorney. ✔
Statutes affected: