Bill Text: FL S0380 | 2020 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Disposition of Personal Property

Spectrum: Slight Partisan Bill (? 2-1)

Status: (Introduced - Dead) 2020-03-10 - Laid on Table, refer to CS/CS/HB 1439 [S0380 Detail]

Download: Florida-2020-S0380-Introduced.html

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       Florida Senate - 2020                                     SB 380
       
       
        
       By Senator Baxley
       
       
       
       
       
       12-00606-20                                            2020380__
    1                        A bill to be entitled                      
    2         An act relating to bank property of deceased account
    3         holders; amending s. 655.059, F.S.; specifying that a
    4         financial institution is not prohibited from
    5         disclosing specified information to certain persons
    6         relating to deceased account holders; creating s.
    7         655.795, F.S.; defining terms; authorizing a financial
    8         institution to pay to the authorized family member of
    9         a decedent depositor, without any court proceeding,
   10         order, or judgment authorizing the payment and not
   11         earlier than a specified time, the funds in the
   12         decedent’s qualified accounts if the sum does not
   13         exceed a specified amount; requiring the authorized
   14         family member to provide the financial institution
   15         with a certified copy of the decedent’s death
   16         certificate and a specified affidavit in order to
   17         receive the funds; providing an affidavit form the
   18         authorized family member may use; providing that the
   19         financial institution does not have a duty to make
   20         certain determinations; specifying that a person does
   21         not have a right or cause of action against a
   22         financial institution for certain actions or for
   23         failing to take certain actions; providing that an
   24         authorized family member who withdraws funds is
   25         personally liable to certain persons if the amount
   26         paid exceeds his or her share; requiring a financial
   27         institution to maintain a copy or image of the
   28         affidavit for a specified time period; authorizing the
   29         financial institution to provide copies of the
   30         affidavit to certain persons; authorizing a financial
   31         institution to release certain information on bank
   32         accounts under certain circumstances; providing a
   33         criminal penalty; providing an effective date.
   34          
   35  Be It Enacted by the Legislature of the State of Florida:
   36  
   37         Section 1. Paragraph (b) of subsection (2) of section
   38  655.059, Florida Statutes, is amended to read:
   39         655.059 Access to books and records; confidentiality;
   40  penalty for disclosure.—
   41         (2)
   42         (b) The books and records pertaining to trust accounts and
   43  the deposit accounts and loans of depositors, borrowers,
   44  members, and stockholders of any financial institution shall be
   45  kept confidential by the financial institution and its
   46  directors, officers, and employees and may not be released
   47  except upon express authorization of the account holder as to
   48  her or his own accounts, loans, or voting rights. However,
   49  information relating to any loan made by a financial institution
   50  may be released without the borrower’s authorization in a manner
   51  prescribed by the board of directors for the purpose of meeting
   52  the needs of commerce and for fair and accurate credit
   53  information. Information may also be released, without the
   54  authorization of a member or depositor but in a manner
   55  prescribed by the board of directors, to verify or corroborate
   56  the existence or amount of a customer’s or member’s account when
   57  such information is reasonably provided to meet the needs of
   58  commerce and to ensure accurate credit information. In addition,
   59  a financial institution, affiliate, and its subsidiaries, and
   60  any holding company of the financial institution or subsidiary
   61  of such holding company, may furnish to one another information
   62  relating to their customers or members, subject to the
   63  requirement that each corporation receiving information that is
   64  confidential maintain the confidentiality of such information
   65  and not provide or disclose such information to any unaffiliated
   66  person or entity. Notwithstanding this paragraph, this
   67  subsection does not prohibit:
   68         1. A financial institution from disclosing financial
   69  information as referenced in this subsection as authorized by
   70  Pub. L. No. 106-102 (1999), as set forth in 15 U.S.C.A. s. 6802,
   71  as amended.
   72         2. The Florida office of the international banking
   73  corporation or international trust entity from sharing books and
   74  records under this subsection with the home-country supervisor
   75  in accordance with subsection (1).
   76         3. A financial institution from disclosing, pursuant to s.
   77  655.795, the existence of and amounts on deposit in any
   78  qualified accounts of a decedent, and providing a copy of any
   79  affidavit delivered to the financial institution pursuant
   80  thereto, to persons authorized to receive such information under
   81  s. 655.795.
   82         Section 2. Section 655.795, Florida Statutes, is created to
   83  read:
   84         655.795 Payment to successor without court proceedings.—
   85         (1) As used in this section, the term:
   86         (a) “Authorized family member” means:
   87         1. The surviving spouse of the decedent;
   88         2. If the decedent did not leave a surviving spouse, an
   89  adult child of the decedent;
   90         3. If the decedent did not leave a surviving spouse or a
   91  surviving adult child, an adult descendant of the decedent; or
   92         4. If the decedent did not leave a surviving spouse, an
   93  adult child, or an adult descendant, the parent of the decedent.
   94         (b) “Family members of the decedent” means:
   95         1. The surviving spouse of the decedent;
   96         2. If there is no surviving spouse or if any of the
   97  children of the decedent are not also children of the surviving
   98  spouse, the living children of the decedent and the living
   99  descendants of any deceased child of the decedent; or
  100         3. If there is no surviving spouse or living descendants of
  101  the decedent, the living parents of the decedent.
  102         (c) “Qualified account” means a depository account or
  103  certificate of deposit held in the sole name of the decedent
  104  without a pay-on-death or any other survivor designation.
  105         (2) A financial institution in this state may pay to the
  106  authorized family member of a decedent, without any court
  107  proceeding, order, or judgment, the funds on deposit in all
  108  qualified accounts of the decedent at the financial institution,
  109  if the total amount of the combined funds in the qualified
  110  accounts at that financial institution does not exceed $10,000.
  111  The financial institution may not make such payment earlier than
  112  2 years after the date of the decedent’s death.
  113         (3) In order to receive the funds, the authorized family
  114  member must provide the financial institution with a certified
  115  copy of the decedent’s death certificate and a sworn affidavit
  116  that includes all of the following:
  117         (a) A statement attesting that the affiant is the surviving
  118  spouse, adult child, adult descendant, or parent of the
  119  decedent.
  120         1. If the affiant is an adult child of the decedent, the
  121  affidavit must attest that the decedent left no surviving
  122  spouse.
  123         2. If the affiant is an adult descendant of the decedent,
  124  the affidavit must attest that the decedent left no surviving
  125  spouse or adult children.
  126         3. If the affiant is a parent of the decedent, the
  127  affidavit must attest that the decedent left no surviving
  128  spouse, adult children, or adult descendants.
  129         (b) The date of death and the address of the last residence
  130  of the decedent.
  131         (c) A statement attesting that the total amount in all
  132  qualified accounts held by the decedent with any financial
  133  institution known to the affiant does not exceed $10,000.
  134         (d) A statement acknowledging that a personal
  135  representative has not been appointed to administer the
  136  decedent’s estate and stating that no probate proceeding or
  137  summary administration procedure has been commenced with respect
  138  to the estate.
  139         (e) A statement identifying the name of each of the family
  140  members of the decedent and attesting that the notarized written
  141  consent of each other family member of the decedent is attached.
  142  The natural parent or guardian of any person who is a minor may
  143  give consent on behalf of such person.
  144         (f) A statement acknowledging that the affiant does not
  145  have knowledge of the existence of any last will and testament
  146  or other document or agreement relating to the distribution of
  147  the estate of the decedent.
  148         (g) A statement acknowledging that the payment of the funds
  149  constitutes a full release and discharge of the financial
  150  institution’s obligation regarding the amount paid.
  151         (h) A statement acknowledging that the affiant understands
  152  that he or she is personally liable to the persons rightfully
  153  entitled to the funds under the Florida Probate Code, to the
  154  extent that the amount paid exceeds the amount properly
  155  attributable to the affiant’s share.
  156         (i) A statement acknowledging that the affiant understands
  157  that making a false statement in the affidavit may be punishable
  158  as a criminal offense.
  159         (4) The authorized family member may use an affidavit in
  160  substantially the following form to fulfill the requirements of
  161  subsection (3):
  162  
  163    AFFIDAVIT UNDER SECTION 655.795, FLORIDA STATUTES, TO OBTAIN   
  164        BANK PROPERTY OF DECEASED ACCOUNT HOLDER: ...(Name of      
  165                            decedent)...                           
  166  State of ....
  167  County of ....
  168  
  169  Before the undersigned authority personally appeared ...(name of
  170  affiant)..., of ...(residential address of affiant)..., who has
  171  been sworn and says the following statements are true:
  172         (a) The affiant is (initial one of the following
  173  responses):
  174         .... The surviving spouse of the decedent.
  175         .... A surviving adult child of the decedent, and the
  176  decedent left no surviving spouse.
  177         .... A surviving adult descendent of the decedent, and the
  178  decedent left no surviving spouse and no surviving adult
  179  children.
  180         .... A surviving parent of the decedent, and the decedent
  181  left no surviving spouse, no surviving adult children, and no
  182  surviving adult descendant.
  183         (b) As shown in the certified death certificate, the date
  184  of death of the decedent was ...(date of death)... and the
  185  address of the decedent’s last residence was ...(address of last
  186  residence)....
  187         (c) The affiant is entitled to payment of the funds in the
  188  decedent’s depository accounts and certificates of deposit held
  189  by the financial institution ...(name of financial
  190  institution).... The total of qualified accounts held by the
  191  decedent in all financial institutions known to the affiant does
  192  not exceed an aggregate total of $10,000. The affiant requests
  193  full payment from the financial institution.
  194         (d) A personal representative has not been appointed to
  195  administer the decedent’s estate and no probate proceeding or
  196  summary administration procedure has been commenced with respect
  197  to the estate.
  198         (e) The affiant has been provided with and has read s.
  199  655.795, Florida Statutes, and (initial one of the following
  200  responses):
  201         .... There are no family members of the decedent other than
  202  affiant.
  203         .... The family members of the decedent are ...(identify by
  204  name).... Notarized letters from all of the family members of
  205  the decedent other than the affiant consenting to the affiant’s
  206  funds withdrawal are attached.
  207         (f) The affiant does not have knowledge of any last will
  208  and testament or other document or agreement relating to the
  209  distribution of the decedent’s estate.
  210         (g) The payment of the funds constitutes a full release and
  211  discharge of the financial institution for the amount paid.
  212         (h) The affiant understands that he or she is personally
  213  liable to the persons rightfully entitled to the funds under the
  214  Florida Probate Code, to the extent that the amount paid exceeds
  215  the amount properly attributable to the affiant’s share.
  216         (i) The affiant understands that making a false statement
  217  in this affidavit may be punishable as a criminal offense.
  218  
  219  By ...(signature of affiant)...
  220  
  221         Sworn to and subscribed before me this .... day of
  222         .... by ...(name of affiant)..., who is personally
  223         known to me or produced .... as identification, and
  224         did take an oath.
  225  
  226         ...(Signature of Notary Public - State of Florida)...
  227         ...(Print, Type, or Stamp Commissioned Name of Notary
  228  Public)...
  229         My commission expires: ...(date of expiration of
  230  commission)...
  231         (5) The financial institution is not required to determine
  232  whether the contents of the sworn affidavit are truthful. The
  233  payment of the funds by the financial institution to the affiant
  234  constitutes the financial institution’s full release and
  235  discharge for the amount paid. A person does not have a right or
  236  cause of action against the financial institution for taking any
  237  action, or for failing to take any action, in connection with
  238  the affidavit or the payment of the funds.
  239         (6) An authorized family member who withdraws funds
  240  pursuant to this section is personally liable to any persons
  241  rightfully entitled to the funds under the Florida Probate Code
  242  to the extent that the amount paid exceeds the amount properly
  243  attributable to the authorized family member’s share.
  244         (7) The financial institution shall maintain a copy or an
  245  image of the affidavit for a period of 7 years after releasing
  246  the funds. If a family member of the decedent requests a copy of
  247  the affidavit during such time, the financial institution may
  248  provide a copy of the affidavit to the requesting family member
  249  of the decedent.
  250         (8) Upon presentation of a decedent’s death certificate to
  251  a financial institution not less than 2 years after the date of
  252  death of the decedent, the financial institution may release the
  253  existence of and amounts contained in any qualified account of
  254  the decedent at the financial institution to either of the
  255  following persons:
  256         (a) A surviving spouse who presents a copy of a marriage
  257  certificate evidencing the spouse’s marriage to the decedent.
  258         (b) An adult child of the decedent who presents a copy of a
  259  birth certificate evidencing that the decedent is the parent of
  260  the adult child.
  261         (9) In addition to any other penalty provided by law, a
  262  person who knowingly makes a false statement in a sworn
  263  affidavit given to a financial institution to receive a
  264  decedent’s funds under this section commits theft, punishable as
  265  provided in s. 812.014.
  266         Section 3. This act shall take effect July 1, 2020.