The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Elizabeth O'Quin.
DIGEST
SB 100 Engrossed 2021 Regular Session Reese
Present law provides that for all purposes, a bank may deal with a safety deposit box or money, on
deposit or otherwise, and any other property in a bank's 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.
Proposed law provides that a small succession affidavit authorized by law, shall constitute full and
sufficient authority for the payment or delivery of any money or property, including property held
in a safety deposit box, of the deceased customer described in the affidavit to the heirs or legatees
of the deceased customer and the surviving spouse in community, if any, in the percentages listed
therein, by the bank having such money or property in its possession or under its control.
Proposed law provides that the transfer of the money or delivery of property identified in the
affidavit to the persons named in the affidavit constitutes a full release and discharge for the payment
of money or delivery of property and any creditor, heir, legatee, succession representative, or other
person whatsoever shall have no right or cause of action against the bank paying the money or
delivering the property in accordance with law on account of such payment, delivery, or transfer.
Present law provides that for all purposes, a mutual 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 the deceased member or depositor until the association receives
notice in writing, specifically addressed to it, of the death of the member or depositor.
Proposed law provides that a small succession affidavit authorized by law shall constitute full and
sufficient authority for the payment or delivery of any money or property, including property held
in a safety deposit box, of the deceased customer described in the affidavit to the heirs or legatees
of the deceased customer and the surviving spouse in community, if any, in the percentages listed
therein, by the mutual association having such money or property in its possession or under its
control on account of such payment, delivery, or transfer.
Proposed law provides that the transfer of the money or delivery of property identified in the
affidavit to the persons named in the affidavit constitutes a full release and discharge for the payment
of money or delivery of property and any creditor, heir, legatee, succession representative, or other
person whatsoever shall have no right or cause of action against the association paying the money
or delivering the property in accordance with law on account of such payment, delivery, or transfer.
Present law provides that for all purposes, a mutual association may deal with safety deposit boxes
and the contents therein titled in the name of a deceased customer, in accordance with its contract with its customer, until the association receives notice in writing specifically addressed to it of the
death of its customer.
Proposed law provides that a small succession affidavit authorized by law, shall constitute full and
sufficient authority for the payment or delivery of any money or property, including property held
in a safety deposit box, of the deceased customer described in the affidavit to the heirs or legatees
of the deceased customer and the surviving spouse in community, if any, in the percentages listed
therein, by the mutual association having such money or property in its possession or under its
control.
Proposed law provides that the transfer of the money or delivery of property identified in the
affidavit to the persons named in the affidavit constitutes a full release and discharge for the payment
of money or delivery of property and any creditor, heir, legatee, succession representative, or other
person whatsoever shall have no right or cause of action against the association paying the money
or delivering the property in accordance with law account of such payment, delivery, or transfer.
Present law provides that a multiple original of an affidavit for small successions shall be full and
sufficient authority for the payment or delivery of any money or property of the deceased in the
affidavit to the heirs of the deceased and the surviving spouse in community, if any, in the
percentages listed therein, by any bank, financial institution, trust company, warehouseman, or other
depository, or by any person having such property in his possession or under his control. Provides
a multiple original of the affidavit shall be full and sufficient authority for the transfer to the heirs
of the deceased, and surviving spouse in community, if any, or to their assigns, of any stock or
registered bonds in the name of the deceased and described in the affidavit, by any domestic or
foreign corporation.
Proposed law provides a multiple original of an affidavit for small successions for a person who died
testate as sufficient authority for the payment or delivery of any money or property of the deceased
to the heirs or legatees of the deceased and the surviving spouse in community by certain persons
as provided by present law.
Proposed law changes the term "bank" to "federally insured depository institution" and provides that,
in addition to the heirs and surviving spouse, money or property may be delivered to a legatee in
accordance with present law.
Present law provides that the receipt of the persons named in the affidavit as heirs of the deceased,
or surviving spouse in community, constitutes a full release and discharge for the payment of money
or delivery of property as provided by present law. Provides that any creditor, heir, succession
representative, or other person whatsoever shall have no right or cause of action against the person
paying the money, or delivering the property, or transferring the stock or bonds, on account of such
payment, delivery, or transfer.
Proposed law includes a legatee is subject to the full release and discharge for the payment of money
or delivery of property as provided by present law. Provides that a legatee shall have no right or
cause of action against the person paying the money, or delivering the property, or transferring the stock or bonds, on account of such payment, delivery, or transfer.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 6:767(F) and 768(D) and (E) and C.C.P. Art. 3434(A) and (B); adds R.S. 6:325(E),
767(G), and 768(F))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Commerce, Consumer
Protection, and International Affairs to the original bill
1. Makes technical changes.