The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Michelle Ducharme.
DIGEST
Gallot (SB 190)
Present law provides for the disposition of contents of a safety deposit box and money and any
other property of a deceased customer of a bank.
Proposed law provides that for all purposes, a bank may deal with a safety deposit box or money
and any other property in its possession titled in the name of a deceased customer in accordance
with its contract with its deceased customer until the bank receives notice in writing specifically
addressed to it of the death of its customer.
Present law provides that after a bank receives written notice of the death of its customer and
upon proper authority and upon obtaining a receipt therefor, any bank may transfer the contents
of a safety deposit box or any money and other property in its possession standing in the name of
a deceased person or in which the latter had an interest to the succession representative, the
surviving spouse, heirs, or legatees of the deceased.
Present law provides that the letters of the succession representative or the judgment recognizing
and putting the heirs in possession issued by a court of competent jurisdiction and accompanied
by letters of tutorship or curatorship of the heirs who are not sui juris shall constitute proper
authority for making the transfer which, when so made and receipted for, shall be full protection
to the bank as to any heir, legatee, creditor, or other person having rights or claims to funds or
property of the decedent.
Proposed law provides that regardless whether a bank receives written notice of the death of its
customer and regardless of any prior action by a bank to freeze or restrict access and transactions
related to its deceased customer's accounts or safety deposit box, upon receipt of letters
testamentary, letters of administration, or letters of independent administration establishing the
appointment of an authorized succession representative, a bank may grant access to or allow the
transfer of contents of a safety deposit box or money or other property titled in the name of the
bank's deceased customer to the succession representative.
Proposed law provides that the letters of the succession representative shall constitute full and
proper authority for allowing the succession representative to access, withdraw, or transfer
money or property of the bank's deceased customer, and the bank shall have no liability related to
such activity or transaction involving the deceased customer's safety deposit box or money or
other property in the bank's possession.
Proposed law provides that the bank may continue to follow the direction of the authorized
succession representative related to the safety deposit box or money or other property of its
deceased customer, unless and until the bank receives a subsequent order specifically naming and directing the bank to cease following the written direction of the succession representative, or the
bank receives a subsequent order limiting or terminating the authority of or replacing the
succession representative.
Proposed law provides that the judgment of possession recognizing and putting the legatees or
heirs in possession of the bank's deceased customer's estate shall constitute full and proper
authority for the bank holding a safety deposit box or money or other property titled in the name
of its deceased customer to transfer those assets to the legatees or heirs entitled to such property
under the judgment of possession.
Proposed law provides that when a bank makes such a transfer, the bank shall have full
protection from any heir, legatee, creditor, or other person having any right or claim to money or
other property of its deceased customer.
Proposed law provides that the bank shall have no liability related to any such transfer or
transaction involving its deceased customer's safety deposit box or money or other property in the
bank's possession.
Present law provides that conclusive proof to the bank of the letters or judgment and of the
jurisdiction of the court rendering them shall result from copies thereof, duly certified when
rendered by a court of this state, or certified according to the Acts of Congress when rendered by
a court of any other state, or certified according to the law of the place when rendered by any
other state or certified according to the law of the place with the genuineness of the certification
attested by a consular agent of the United States when rendered by a court of any foreign country.
Proposed law provides that conclusive proof to the bank of the letters testamentary, letters of
administration, or letters of independent administration of the succession representative shall be
the same as the proof required in present law.
Present law provides for the form of the receipt of the written notice by the bank of the death of
its customer.
Proposed law removes this provision of law.
Present law provides that upon the death of a member or depositor, the rights of membership of a
depositor shall continue in the executor, administrator, heirs, or surviving spouse of the deceased
depositor, as the case may be.
Proposed law provides that upon the death of a member or depositor, the rights of membership or
of a depositor shall continue in the succession representatives, legatees, or heirs of the deceased
depositor, as the case may be.
Present law provides that the association shall transfer these shares or savings accounts and all
dividends or interest which have accrued on them as provided by law. Proposed law provides that for all purposes, an association may deal with money, on deposit or
otherwise, held by an association in a savings account, demand account, deposit account, share
account, and with any other property, titled in the name of its deceased member or depositor in
accordance with its contract with its deceased member or depositor until the association receives
notice in writing specifically addressed to it of the death of the member or depositor.
Present law provides that upon proper authority and surrender of any certificates and evidences
of ownership of a decedent in shares or savings accounts of an association, by any duly qualified
administrator or executor of the succession of such decedent, every association may pay the
withdrawal value of shares, or savings accounts and any dividends or interest that may have
accrued thereon in its possession belonging to a deceased person, to the administrator or executor
of the deceased's succession.
Present law provides that the letters of the succession representative issued by a court shall
constitute a proper authority for making payment to such administrator or executor, shall
constitute full protection to the association making any such payment, and the association shall
have no liability for any inheritance tax due thereon.
Proposed law removes these provisions of present law.
Proposed law provides that regardless whether the association has received written notice of the
death of its member or depositor and regardless of any prior action by an association to freeze or
restrict access and transactions related to its deceased member's or depositor's shares or accounts,
upon receipt of the letters testamentary, letters of administration, or letters of independent
administration establishing the appointment of an authorized succession representative, an
association may grant access to or allow the transfer of money or other property titled in the
name of its deceased member or depositor to the succession representative.
Proposed law provides that the letters of the succession representative shall constitute full and
proper authority for the association to grant access to or allow the transfer of the withdrawal
value of share accounts, demand accounts, deposit accounts, or savings accounts and any
dividends or interest that may have accrued thereon or any money or property held in the name of
the deceased member or depositor to such succession representative, and the association shall
have no liability related to such activity or transactions involving its deceased member's or
depositor's money or property in its possession, and the association shall have no liability for any
inheritance tax due thereon.
Proposed law provides that the association may continue to follow the direction of the authorized
succession representative related to the money or other property titled in its deceased member's
or depositor's name, unless and until the association receives a subsequent order specifically
naming the association and directing the association to cease following the written direction of
the succession representative, or the association receives a subsequent order limiting or
terminating the authority of or replacing the succession representative.
Proposed law provides that the judgment of possession recognizing and putting the legatees or heirs in possession of the deceased customer's estate shall constitute full and proper authority for
the association holding a safety deposit box or money or other property titled in the name of its
deceased member or customer to transfer those assets to the legatees or heirs entitled to such
property under the judgment of possession, and when an association makes such a transfer, there
shall be full protection to the association against any heir, legatee, creditor, or other person
having any right or claim to money or property of its deceased customer.
Proposed law further provides that the association shall have no liability related to such transfers
or transactions involving its deceased customer's money or other property in the association's
possession.
Proposed law provides that conclusive proof to the association of the letters testamentary, letters
of administration, or letters of independent administration of the succession representative, or of
the judgment of possession, and of the jurisdiction of the court rendering them, shall be as
provided by law.
Present law provides that an association may deal with safety deposit boxes and the contents
therein in the name of a deceased person, or in which the latter had an interest, in accordance
with its contract with its customer until the association receives notice in writing addressed to it
of the death of its customer.
Present law provides that after receipt of such notice in writing and upon proper authority and
upon obtaining a receipt therefor, any association may transfer the contents of a safety deposit
box standing in the name of a deceased person or in which the latter had an interest, to the
succession representative, the surviving spouse, heirs, or legatees of the deceased.
Proposed law removes the provisions of present law.
Proposed law provides that regardless whether an association has received written notice of the
death of its customer and regardless of any prior action by an association to freeze or restrict
access and transactions related to its deceased customer's safety deposit box, upon receipt of
letters testamentary, letters of administration, or letters of independent administration
establishing the appointment of an authorized succession representative, an association may grant
access to or allow the transfer of the contents of a safety deposit box titled in the name of its
deceased customer, to the succession representative, and an association may otherwise follow
whatever directions its receives from the succession representative.
Proposed law provides that the succession representative shall constitute full and proper authority
for allowing the succession representative to access, remove, or transfer the contents of a safety
deposit box titled in the name of the deceased customer, and the association shall have no
liability related to such activity or transaction involving its deceased customer's safety deposit
box.
Proposed law provides that the association may continue to follow the direction of the authorized
succession representative related to safety deposit boxes of its deceased customer, unless and until the association receives a subsequent order specifically naming and directing the association
to cease following the written direction of the succession representative or receives a subsequent
order limiting or terminating the authority of or replacing the succession representative.
Proposed law provides that the receipt of a judgment of possession recognizing and putting the
legatees or heirs in possession of the deceased customer's estate shall constitute full and proper
authority for the association holding a safety deposit box or other property titled in the name of
the deceased customer's name to transfer those assets to the legatees or heirs entitled to such
property under the judgment of possession, and when an association makes such a transfer, there
shall be full protection to the association against any heir, legatee, creditor, or other person
having any right or claim to funds or property of its deceased customer, and the association shall
have no liability related to such transfer or transaction involving its deceased customer's safety
deposit box or money or other property in the association's possession, and the association shall
have no liability for any inheritance tax due thereon.
Present law provides upon proper authority and upon obtaining a receipt therefor, an association
may transfer the contents of a safety deposit box belonging to an interdict or a minor to the legal
representative of such interdict or minor. The letters issued to the legal representative by a court
of competent jurisdiction shall constitute proper authority for making the transfer, which when so
made and receipted for, shall be full protection to the association.
Proposed law retains present law but removes the requirement of obtaining a receipt.
Present law provides that the receipt to be obtained by the association may be in any form, but it
shall be signed either by the succession representative accompanied by a certified copy of the
letters or by the heirs or the legal representatives of the heirs who are not sui juris, accompanied
by a certified copy of the judgment recognizing and putting the heirs in possession and by a
certified copy of the letters of tutorship or curatorship of the legal representatives of the heirs
who are not sui juris. In the case of minors or interdicts, the receipt shall be signed by the legal
representative of the minor or interdict and accompanied by a certified copy of the letters issued
to such legal representative.
Proposed law removes the provisions of present law.
Proposed law provides that conclusive proof to the association of the letters testamentary, letters
of administration, or letters of independent administration of the succession representative, or of
the judgment of possession, and of the jurisdiction of the court rendering them, shall be as
provided by law.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 6:325, 767, and 768)
Summary of Amendments Adopted by Senate Committee Amendments Proposed by Senate Committee on Commerce, Consumer
Protection, and International Affairs to the original bill
1. Changes the effective date from August 1, 2013 to effective upon signature of the
governor or lapse of time for gubernatorial action.