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Regular Session, 2013 ENROLLED
SENATE BILL NO. 190
BY SENATOR GALLOT
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
AN ACT1
To amend and reenact R.S. 6:325, 653.4, 664(A), 767, and 768, relative to banks, credit2
unions, and mutual associations; to provide for the access and transfer of the contents3
of a safety deposit box by a bank, credit union, or association to a succession4
representative, heir, or legatee; to provide for access and transfer of the contents of5
certain accounts of a bank, credit union, or association to a succession representative,6
heir, or legatee; to provide for procedure, terms, and conditions; to provide for an7
effective date; and to provide for related matters.8
Be it enacted by the Legislature of Louisiana:9
Section 1. R.S. 6:325, 653.4, 664(A), 767, and 768 are hereby amended and10
reenacted to read as follows:11
§325. Transfer Death of a customer and access and transfer of contents of safety12
deposit boxes, money, and other property by bank to succession13
representatives, legatees, or heirs or their representatives, executors,14
or administrators; authority15
A. A For all purposes, a bank may deal with a safety deposit boxes or box16
or money, on deposit or otherwise, and any other property in it's a bank's possession17
titled standing in the name of a deceased customer person or in which the latter had18
an interest in accordance with its contract with its deceased customer until the bank19
receives notice in writing specifically addressed to it of the death of the its customer.20
After receipt of such notice in writing and upon proper authority and upon obtaining21
a receipt therefor, any bank may transfer the contents of a safety deposit box or any22
money and other property in its possession standing in the name of a deceased person23
or in which the latter had an interest to the succession representative, the surviving24 SB NO. 190 ENROLLED
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spouse, heirs, or legatees of the deceased.1
B.(1) The letters of the succession representative or the judgment recognizing2
and putting the heirs in possession issued by a court of competent jurisdiction and3
accompanied by letters of tutorship or curatorship of the heirs who are not sui juris4
shall constitute proper authority for making the transfer which, when so made and5
receipted for, shall be full protection to the bank as to any heir, legatee, creditor, or6
other person having rights or claims to funds or property of the decedent.7
Regardless of whether a bank receives written notice of the death of its8
customer and regardless of any prior action by a bank to freeze or restrict9
access and transactions related to its deceased customer's accounts or safety10
deposit box, upon receipt of letters testamentary, letters of administration, or11
letters of independent administration, issued by a court of competent12
jurisdiction, appointing an authorized succession representative, a bank may13
grant access to or allow the transfer of contents of a safety deposit box or money14
or other property titled in the name of the bank's deceased customer to the15
succession representative.16
(2) The letters appointing the succession representative shall constitute17
full and proper authority for allowing the succession representative to access,18
withdraw, or transfer money or property of the bank's deceased customer, and19
the bank shall have no liability related to such activity or transaction involving20
the deceased customer's safety deposit box or money or other property in the21
bank's possession.22
(3) The bank may continue to follow the direction of the authorized23
succession representative related to the safety deposit box or money or other24
property of its deceased customer, unless and until the bank receives a25
subsequent court order, issued by a court of competent jurisdiction, specifically26
naming and directing the bank to cease following the written direction of the27
succession representative, or the bank receives a subsequent court order, issued28
by a court of competent jurisdiction, limiting or terminating the authority of or29
replacing the succession representative.30 SB NO. 190 ENROLLED
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C. The judgment of possession recognizing and putting the legatees or1
heirs in possession of the bank's deceased customer's estate shall constitute full2
and proper authority for the bank holding a safety deposit box or money or3
other property titled in the name of its deceased customer to transfer those4
assets to the legatees or heirs entitled to such property under the judgment of5
possession. When a bank makes such a transfer, the bank shall have full6
protection from any heir, legatee, creditor, or other person having any right or7
claim to money or other property of its deceased customer. The bank shall have8
no liability related to any such transfer or transaction involving its deceased9
customer's safety deposit box or money or other property in the bank's10
possession.11
D. Conclusive proof to the bank of the letters testamentary, letters of12
administration, letters of independent administration of the succession13
representative, or judgment of possession and of the jurisdiction of the court14
rendering them shall result from copies thereof, duly certified when rendered by a15
court of this state, or certified according to the Acts of Congress when rendered by16
a court of any other state, or certified according to the law of the place when17
rendered by a court of any possession or dependency of the United States, or18
certified according to the law of the place with the genuineness of the certification19
attested by a consular agent of the United States when rendered by a court of any20
foreign country.21
D. The receipt to be obtained by the bank may be in any form, but it shall be22
signed either by the succession representative accompanied by a certified copy of the23
letters or by the heirs or the legal representatives of the heirs who are not sui juris24
accompanied by a certified copy of the judgment recognizing and putting the heirs25
in possession and by a certified copy of the letters of tutorship or curatorship of the26
legal representatives of the heirs who are not sui juris.27
* * *28
§653.4. Death of member or account owner; access and transfer of accounts,29
shares and property to succession representative, heirs, legatees,30 SB NO. 190 ENROLLED
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and legal representative1
A. A For all purposes, credit union may conduct business in accordance2
with its bylaws, membership agreements, and other relevant contract terms3
concerning a deceased person member or depositor until it receives written notice4
specifically addressed to it of the person's death of the member or depositor that5
identifies therein the accounts, shares, all accrued interest or dividends, safe deposit6
boxes and their contents, and any other property, either on deposit or otherwise in the7
credit union's possession, that are standing in the deceased's name of the deceased8
member or depositor or in which the deceased member or depositor has an9
interest.10
B.(1) Except as provided in R.S. 6:664, a credit union may transfer property11
standing in a deceased's name or in which a deceased has an interest to succession12
representatives, surviving spouse, heirs, or legatees of the deceased, as the case may13
be, upon receiving proof of proper authority and after obtaining a receipt therefor.14
If a judgment places the property into possession of a person sui juris, a credit union15
may transfer the property to that person's legal representative upon additionally16
receiving proof of authority of the legal representative. In addition to the17
provisions of R.S. 6:664, upon receipt of letters testamentary, letters of18
administration, or letters of independent administration, issued by a court of19
competent jurisdiction, appointing any authorized succession representative, a20
credit union may grant access to or allow the transfer of contents of a safety21
deposit box or money or other property titled in the name of its deceased22
member or depositor to the succession representative.23
(2) The credit union may continue to follow the direction of the24
authorized succession representative related to the safety deposit box or money25
or other property of its deceased member or depositor, unless and until the26
credit union receives a subsequent order issued by a court of competent27
jurisdiction specifically naming and directing the credit union to cease following28
the direction of the succession representative, or the credit union receives a29
subsequent order issued by a court of competent jurisdiction limiting or30 SB NO. 190 ENROLLED
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terminating the authority of or replacing the succession representative.1
(3) A judgment of possession issued by a court of competent jurisdiction2
recognizing and putting the legatees or heirs in possession of the estate of its3
deceased member or depositor shall constitute full and proper authority for the4
credit union holding a safety deposit box or money or other property titled in5
the name of the deceased member or depositor to transfer those assets to the6
legatees or heirs entitled to such property under the judgment of possession.7
C. Letters issued to succession representative(s) by a court of competent8
jurisdiction, letters issued to the legal representative of persons sui juris by a court9
of competent jurisdiction, and a judgment rendered by a court of competent10
jurisdiction recognizing and putting in possession the surviving spouse, the heirs,11
and/or the legatees of the deceased constitutes proper authority to transfer property12
in accordance with this Section. Conclusive proof to a credit union of the letters13
testamentary, letters of administration, letters of independent administration14
of the succession representative or judgment and of the jurisdiction of the court15
rendering same of possession issued by a court of competent jurisdiction shall16
result from copies thereof, duly certified when rendered by a court of this state, or17
certified according to the Acts of Congress when rendered by a court of any18
possession or dependency of the United States, or certified according to the law of19
the place with the genuineness of the certification attested by a consular agent of the20
United States when rendered by a court of any foreign country.21
D. A receipt obtained by the credit union for the property transferred may22
be in any form, but must be signed, as the case may be, by the succession23
representative(s) accompanied by a certified copy of the letters or by the surviving24
spouse, heirs, and/or legatees accompanied by a certified copy of the judgment25
recognizing and placing them into possession of the said property and, when a26
judgment places the property into possession of a person sui juris, the receipt must27
be signed in his stead by his legal representative and additionally accompanied by28
a certified copy of the letters of tutorship or curatorship.29
E. Transfers made and receipted for in accordance herewith with the30 SB NO. 190 ENROLLED
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provisions of this Section shall constitute full protection to a credit union as to any1
heir, legatee, surviving spouse, creditor, those who are sui juris or other person2
having rights or claims to the transferred funds or property, claims related to such3
activity or transaction and the credit union shall have no liability to the state of4
Louisiana for any taxes due thereon.5
* * *6
§664. Money deposited in a multiple party account7
A. When In addition to the provisions of R.S. 6:534.4, when a deposit in8
a share account is made in any credit union under the names of two or more members9
payable to any one of such members, that share account or any part of it or any10
interest or dividend on it may be paid to any one of such members, whether the other11
member or members be living or not, and the receipt or acquittance of the member12
paid is a full release and discharge of the credit union as to any heir, legatee, creditor,13
or other person having rights or claims to funds of such deceased member for any14
payment made; nor shall any credit union paying any such member in accordance15
with the provisions of this Section thereby be liable for any estate, inheritance, or16
succession taxes that may be due this state. However, a credit union which has17
received notice addressed to it in writing of the death of any such account owner18
shall thereafter report payments made out of the account to the secretary of the19
Department of Revenue within fifteen days after payment is made.20
* * *21
§767. Death of member or depositor and access and transfer of money and22
property by association to succession representatives, legatees, or23
heirs; authority24
A. Upon the death of a member or depositor, the rights of membership or of25
a depositor shall continue in the executor, administrator, succession representatives,26
legatees, or heirs, or surviving spouse of the deceased depositor, as the case may be.27
B. The association shall transfer these shares or savings accounts and all28
dividends or interest which have accrued on them as provided by law. For all29
purposes, an association may deal with money, on deposit or otherwise, held by30 SB NO. 190 ENROLLED
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an association in a savings account, demand account, deposit account, share1
account, and with any other property, titled in the name of its deceased member2
or depositor in accordance with its contract with its deceased member or3
depositor until the association receives notice in writing specifically addressed4
to it of the death of the member or depositor.5
C. Upon proper authority and surrender of any certificates and evidences of6
ownership of a decedent in shares or savings accounts of an association, by any duly7
qualified administrator or executor of the succession of such decedent, every8
association may pay the withdrawal value of shares, or savings accounts and any9
dividends or interest that may have accrued thereon in its possession belonging to a10
deceased person, to the administrator or executor of the deceased's succession. The11
letters of the succession representative issued by a court shall constitute a proper12
authority for making payment to such administrator or executor, shall constitute full13
protection to the association making any such payment, and the association shall14
have no liability for any inheritance tax due thereon. Regardless of whether the15
association has received written notice of the death of its member or depositor16
and regardless of any prior action by an association to freeze or restrict access17
and transactions related to its deceased member's or depositor's shares or18
accounts, upon receipt of the letters testamentary, letters of administration, or19
letters of independent administration, issued by a court of competent20
jurisdiction, appointing an authorized succession representative, an association21
may grant access to or allow the transfer of money or other property titled in22
the name of its deceased member or depositor to the succession representative.23
The letters of the succession representative shall constitute full and proper24
authority for the association to grant access to or allow the transfer of the25
withdrawal value of share accounts, demand accounts, deposit accounts, or26
savings accounts and any dividends or interest that may have accrued thereon27
or any money or property held in the name of the deceased member or28
depositor to such succession representative. The association shall have no29
liability related to such activity or transactions involving its deceased member's30 SB NO. 190 ENROLLED
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or depositor's money or property in its possession, and the association shall1
have no liability for any inheritance tax due thereon. The association may2
continue to follow the direction of the authorized succession representative3
related to the money or other property titled in its deceased member's or4
depositor's name, unless and until the association receives a subsequent court5
order, issued by a court of competent jurisdiction, specifically naming the6
association and directing the association to cease following the written direction7
of the succession representative, or the association receives a subsequent court8
order limiting or terminating the authority of or replacing the succession9
representative.10
D. The judgment of possession recognizing and putting the legatees or11
heirs in possession of the deceased customer's estate shall constitute full and12
proper authority for the association holding a safety deposit box or money or13
other property titled in the name of its deceased member or customer to14
transfer those assets to the legatees or heirs entitled to such property under the15
judgment of possession, and when an association makes such a transfer, there16
shall be full protection to the association against any heir, legatee, creditor, or17
other person having any right or claim to money or property of its deceased18
customer. The association shall have no liability related to such transfers or19
transactions involving its deceased customer's money or other property in the20
association's possession.21
E. Conclusive proof to the association of the letters testamentary, letters22
of administration, or letters of independent administration of the succession23
representative, or of the judgment of possession, and of the jurisdiction of the24
court rendering them, shall be as provided in R.S. 6:325(D).25
F. Any association may pay to the surviving spouse the value of any savings26
or demand account or shares standing in the name of the decedent in such association27
without authorization by any court proceeding, order, or judgment, whether the28
savings account or shares belong to the separate estate of the decedent or to the29
community property regime which existed between the decedent and the surviving30 SB NO. 190 ENROLLED
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spouse, subject to the provisions of R.S. 9:1513.1
§768. Transfer of contents of safety deposit boxes by an association to succession2
representatives, legatees, heirs, minors or interdicts, their legal3
representatives, executors or administrators; authority4
A. For all purposes, an An association may deal with safety deposit boxes5
and the contents therein standing titled in the name of a deceased customer person,6
or in which the latter had an interest, in accordance with its contract with its7
customer, until the association receives notice in writing specifically addressed to8
it of the death of said its customer. After receipt of such notice in writing and upon9
proper authority and upon obtaining a receipt therefor, any association may transfer10
the contents of a safety deposit box standing in the name of a deceased person or in11
which the latter had an interest, to the succession representative, the surviving12
spouse, heirs, or legatees of the deceased.13
B. Regardless of whether an association has received written notice of the14
death of its customer and regardless of any prior action by an association to15
freeze or restrict access and transactions related to its deceased customer's16
safety deposit box, upon receipt of letters testamentary, letters of17
administration, or letters of independent administration, issued by a court of18
competent jurisdiction, appointing an authorized succession representative, an19
association may grant access to or allow the transfer of the contents of a safety20
deposit box titled in the name of its deceased customer to the succession21
representative. The letters of the succession representative shall constitute full22
and proper authority for allowing the succession representative to access,23
remove, or transfer the contents of a safety deposit box titled in the name of the24
deceased customer, and the association shall have no liability related to such25
activity or transaction involving its deceased customer's safety deposit box. The26
association may continue to follow the direction of the authorized succession27
representative related to safety deposit boxes of its deceased customer, unless28
and until the association receives a subsequent court order, issued by a court of29
competent jurisdiction, specifically naming and directing the association to30 SB NO. 190 ENROLLED
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cease following the written direction of the succession representative or receives1
a subsequent court order limiting or terminating the authority of or replacing2
the succession representative or the judgment recognizing and putting the heirs in3
possession issued by a court of competent jurisdiction, and accompanied by letters4
of tutorship or curatorship of the heirs who are not sui juris, shall constitute proper5
authority for making the transfer, which, when so made and receipted for, shall be6
full protection to the association as to any heir, legatee, creditor, or other person7
having rights or claims to funds or property of the decedent, and the association shall8
have no liability for any inheritance tax due thereon.9
C. The receipt of a judgment of possession, issued by a court of10
competent jurisdiction, recognizing and putting the legatees or heirs in11
possession of the deceased customer's estate shall constitute full and proper12
authority for the association holding a safety deposit box or other property13
titled in the name of the deceased customer's name to transfer those assets to the14
legatees or heirs entitled to such property under the judgment of possession.15
When an association makes such a transfer, there shall be full protection to the16
association against any heir, legatee, creditor, or other person having any right17
or claim to funds or property of its deceased customer, and the association shall18
have no liability related to such transfer or transaction involving its deceased19
customer's safety deposit box or money or other property in the association's20
possession, and the association shall have no liability for any inheritance tax due21
thereon.22
D. Upon proper authority and upon obtaining a receipt therefor, an23
association may transfer the contents of a safety deposit box belonging to an interdict24
or a minor to the legal representative of such interdict or minor. The letters issued25
to the legal representative by a court of competent jurisdiction shall constitute proper26
authority for making the transfer, which when so made and receipted for, shall be full27
protection to the association.28
D. The receipt to be obtained by the association may be in any form, but it29
shall be signed either by the succession representative accompanied by a certified30 SB NO. 190 ENROLLED
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copy of the letters or by the heirs or the legal representatives of the heirs who are not1
sui juris, accompanied by a certified copy of the judgment recognizing and putting2
the heirs in possession and by a certified copy of the letters of tutorship or3
curatorship of the legal representatives of the heirs who are not sui juris. In the case4
of minors or interdicts, the receipt shall be signed by the legal representative of the5
minor or interdict and accompanied by a certified copy of the letters issued to such6
legal representative.7
E. Conclusive proof to the association of the letters testamentary, letters8
of administration, or letters of independent administration of the succession9
representative, or of the judgment of possession, and of the jurisdiction of the10
court rendering them, shall be as provided in R.S. 6:325(D).11
Section 2. This Act shall become effective upon signature by the governor or, if not12
signed by the governor, upon expiration of the time for bills to become law without signature13
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If14
vetoed by the governor and subsequently approved by the legislature, this Act shall become15
effective on the day following such approval.16
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: