HLS 16RS-1649 ORIGINAL
2016 Regular Session
HOUSE BILL NO. 972
BY REPRESENTATIVE TERRY BROWN
SUCCESSIONS: Provides relative to the release of certain brokerage account information
for the estate of a decedent
1 AN ACT
2To enact R.S. 51:710.3, relative to the disclosure of certain account information; to provide
3 for the release of certain account information of a decedent by a brokerage firm; to
4 provide for certain required documents; to provide for definitions; and to provide for
5 related matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 51:710.3 is hereby enacted to read as follows:
8 ยง710.3. Disclosures of investment brokerage account information
9 A. A brokerage firm or any affiliate is hereby specifically authorized to
10 release account information of a decedent to any legal representative, surviving
11 spouse, heir, or legatee of a deceased customer, or to an attorney at law representing
12 the decedent upon the brokerage firm's receiving written notice of the customer's
13 death, and upon the receipt of evidence satisfactory to it of proper authority which,
14 in the case of a surviving spouse, heir, or legatee of a decedent, may be by affidavit
15 executed by such person attesting to such relationship with the decedent.
16 B. As provided by this Section, "brokerage firm" means a financial
17 institution that facilitates the buying and selling of financial securities, including
18 publicly traded stocks, bonds, and other securities through the agent stockbrokers of
19 the firm or through online trading services provided by the firm.
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 16RS-1649 ORIGINAL
HB NO. 972
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 972 Original 2016 Regular Session Terry Brown
Abstract: Authorizes the disclosure of brokerage account information of a decedent by a
brokerage firm to any legal representative, surviving spouse, heir, or legatee of a
customer, or to an attorney at law representing the decedent upon sufficient proof of
the death of the decedent.
Proposed law authorizes the disclosure of brokerage account information of a decedent by
a brokerage firm or any affiliate to any legal representative, surviving spouse, heir, or legatee
of a customer, or to an attorney at law representing the decedent.
Proposed law requires the presentation to the brokerage firm of a written notice of the
customer's death.
Proposed law defines "brokerage firm" as a financial institution that facilitates the buying
and selling of financial securities, including publicly traded stocks, bonds, and other
securities through the agent stockbrokers of the firm or through online trading services
provided by the firm.
(Adds R.S. 51:710.3)
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.