The legislative instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Xavier Alexander.
CONFERENCE COMMITTEE REP ORT DIGEST
SB 137 2024 Regular Session Miller
Keyword and summary of the bill as proposed by the Conference Committee
BANKS/BANKING. Provides relative to deposits for customers who expire while domiciled out
of state.(8/1/24)
Report adopts House amendments to:
1. Expand provisions of proposed law relative to the access or transfer of
contents of a safety deposit box or money or other property titled in the name
of the deceased bank customer to include an estate representative.
2. Add, in addition to a judgment of possession, that a court order issued by a
court of competent jurisdiction in this state or any other state recognizing and
putting certain persons in possession of the bank's deceased customer's estate
shall constitute full and proper authority for a bank to transfer certain
property.
Report rejects House amendments which would have:
1. Provided that provisions of proposed law relative to the access or transfer of
contents of a safety deposit box or money or other property titled in the name
of a deceased customer would have applied to credit unions.
Report amends the bill to:
1. Allow a credit union to grant access to or allow transfer of contents of a
safety deposit box or money or other property titled in the name of credit
union's deceased member or depositor to the succession or estate
representative.
2. Add, in addition to a judgment of possession, that a court order issued by a
court of competent jurisdiction in this state or any other state recognizing and
putting certain persons in possession of the estate of the credit union's
deceased member or depositor shall constitute full and proper authority for
the credit union to transfer certain property. Digest of the bill as proposed by the Conference Committee
Present law provides that regardless of whether a bank has received 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 safety deposit box, upon receipt of letters testamentary, letters of
administration, or letters of independent administration, issued by a court of competent jurisdiction,
a bank may grant access to or allow the transfer of the contents of a safety deposit box or money or
other property titled in the name of its deceased customer to the succession representative.
Proposed law retains present law, clarifies that the letters testamentary, letters of administration, or
letters of independent administration shall be issued by a court of competent jurisdiction in this state
or any other state and adds that an estate representative can be appointed by the court.
Proposed law provides that 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 or estate representative appointed by a court outside of this state.
Present law provides that a judgment of possession recognizing and putting the legatees or heirs in
possession of the deceased customer 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 the deceased customer
to transfer those assets to the legatees or heirs entitled to such property under the judgment of
possession. Provides that when a bank makes such a transfer, there shall be full protection from the
heir, legatee, creditor, or other person having any right or claim to money or property of its deceased
customer, and the bank 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 bank's possession.
Proposed law retains present law and clarifies that a judgment of possession or court order
recognizing and putting the legatees or heirs in possession of the deceased customer's estate shall be
issued by a court of competent jurisdiction in this state or any other state.
Present law provides that conclusive proof to the bank of the letters or judgments 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 with genuineness of the certification
attested by a consular agent of the U.S. when rendered by a court of any foreign country.
Proposed law removes from present law the requirement that copies of the letters or judgments be
certified according to the Acts of Congress.
Present law provides that regardless of whether the association has received written notice of the
death of its members 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 letters testamentary, letters of administration, or letters of independent
administration, issued by a court of competent jurisdiction, appointing 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.
Present 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 saving accounts, and 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. Provides the association shall have no liability related
to such activity or transaction 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.
Present law provides that the association may continue to follow 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
authority of or replacing the succession representative.
Proposed law retains present law, clarifies that a letters testamentary, letters of administration, or
letters of independent administration shall be issued by a court of competent jurisdiction in this state
or any other state, and adds that an estate representaive can be appointed by the court. Further
provides that an association may grant access to or allow the transfer of money or other property
titled in the name of the deceased member or depositor to the succession or estate representative
appointed by a court outside of this state.
Present law provides that regardless of 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, issued by a court of
competent jurisdiction, appointing 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 it receives from the succession representative.
Present law provides that the letters of 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.
Present 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 retains present law and clarifies that a letters testamentary, letters of administration, or letters of independent administration shall be issued by a court of competent jurisdiction in this
state or any other state. Further provides that an association may grant access to or allow the transfer
of contents of a safety deposit box titled in the name of the deceased customer to the succession or
estate representative appointed by a court outside of this state.
Present law provides that the receipt of a judgment of possession issued by a court of competent
juridiction, 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. Provides 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.
Proposed law retains present law and clarifies that a judgment of possession or court order
recognizing and putting the legatees of heirs in possession of the deceased customer's estate, shall
be issued by a court of competent jurisdiction in this state or any other state.
Present law provides that upon receipt of letters testamentary, letters of administration, or letters of
independent administration, issued by a court of competent jurisdiction, appointing any authorized
succession representative, a credit union may grant access to or allow transfer of contents of a safety
deposit box or money or other property titled in the name of its deceased member or depositor to
the succession representative.
Proposed law retains present law, clarifies that the letters testamentary, letters of administration, or
letters of independent administration shall be issued by a court of competent jurisdiction in this state
or any other state, and adds that an estate representative can be appointed by the court. Further
provides that a credit union 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 credit union's deceased member or depositor
to the succession or estate representative appointed by a court outside of Louisiana.
Present law provides that a judgment of possession issued by a court of competent jurisdiction
recognizing and putting legatees or heirs in possession of the estate of its deceased member or
depositor shall constitute full and proper authority for the credit union holding a safety deposit box
or money or property titled in the name of the deceased member or depositor to transfer the property.
Proposed law retains present law and clarifies that a judgment of possession or court order
recognizing and putting legatees or heirs in possession of the deceased member or depositor shall
be issued by a court of competent jurisdiction in this state or any other state.
Present law provides that conclusive proof to a credit union of the letters of testamentary, letters of
administration, letters of independent administration of the succession representative or judgment
of possession, issued by a court of competent jurisdiction, shall result from copies thereof, duly certified when rendered by a court of this state, or certified according to Acts of Congress when
rendered by a court of any possession or dependency of the United States, 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 removes requirement that copies of the letters of judgments be certified according to
Acts of Congress and instead adds the requirement that copies of the letters or judgments be certified
according to the law of the place when rendered by a court of any possession or dependency of the
United States.
Effective August 1, 2024.
(Amends R.S. 6:325(B), (C), and (D), 653.4(B) and (C), 767(C) and (D), and 768(B) and (C))