Bill Text: IA HF2366 | 2023-2024 | 90th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: A bill for an act relating to probate law, including charitable organizations as named beneficiaries. (Formerly HF 649, HF 515.) Effective date: 07/01/2024.
Spectrum: Committee Bill
Status: (Passed) 2024-05-03 - Signed by Governor. H.J. 937. [HF2366 Detail]
Download: Iowa-2023-HF2366-Introduced.html
Bill Title: A bill for an act relating to probate law, including charitable organizations as named beneficiaries. (Formerly HF 649, HF 515.) Effective date: 07/01/2024.
Spectrum: Committee Bill
Status: (Passed) 2024-05-03 - Signed by Governor. H.J. 937. [HF2366 Detail]
Download: Iowa-2023-HF2366-Introduced.html
House
File
2366
-
Introduced
HOUSE
FILE
2366
BY
COMMITTEE
ON
JUDICIARY
(SUCCESSOR
TO
HF
649)
(SUCCESSOR
TO
HF
515)
A
BILL
FOR
An
Act
relating
to
probate
law,
including
charitable
1
organizations
as
named
beneficiaries.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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2008HZ
(2)
90
cm/jh
H.F.
2366
Section
1.
NEW
SECTION
.
633.358
Charitable
organization
1
beneficiary
affidavit
and
third-party
protection.
2
1.
For
the
purposes
of
this
section,
“beneficiary
3
designation”
means
the
provision
in
an
instrument
designating
a
4
beneficiary,
other
than
in
a
will
or
an
instrument
creating
a
5
trust,
and
may
also
mean
the
instrument
itself,
including
but
6
not
limited
to
any
of
the
following:
7
a.
An
annuity
or
insurance
policy.
8
b.
An
account
with
a
designation
for
payment
on
death.
9
c.
A
security
registered
in
beneficiary
form.
10
d.
A
pension,
profit-sharing,
retirement,
or
other
11
employment-related
benefit
plan.
12
e.
Any
other
nonprobate
transfer
at
death.
13
2.
If
a
charitable
organization,
as
defined
in
section
14
15E.311,
is
a
beneficiary
of
an
interest
in
property
created
15
by
beneficiary
designation,
that
charitable
organization
may
16
present
an
affidavit
to
the
holder
of
the
property
or
to
any
17
person
with
information
about
the
property
for
the
purpose
of
18
obtaining
the
property
or
information
regarding
the
property.
19
The
affidavit
shall
state
all
of
the
following:
20
a.
The
decedent’s
name
and
last
known
address.
21
b.
A
general
description
of
the
property
to
the
extent
22
known.
23
c.
The
charitable
organization’s
name,
address,
and
primary
24
contact
information.
25
d.
The
charitable
organization
is
a
charitable
organization
26
as
defined
in
section
15E.311.
27
e.
A
request
that
the
property
be
paid
or
transferred
to
the
28
charitable
organization
or
that
information
about
the
property
29
be
given
to
the
charitable
organization.
30
f.
No
one
other
than
the
charitable
organization
has
a
right
31
to
the
interest
in
the
property
listed
in
the
affidavit.
32
g.
The
affidavit
has
been
signed
by
a
duly
authorized
33
representative
of
the
charitable
organization
under
penalty
of
34
perjury
before
a
notary
public
as
provided
in
chapter
9B.
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h.
The
information
in
the
affidavit
is
true
and
correct.
1
3.
The
affidavit
shall
be
accompanied
by
all
of
the
2
following:
3
a.
A
copy
of
the
charitable
organization’s
determination
4
letter
from
the
internal
revenue
service
recognizing
its
5
tax-exempt
status.
6
b.
A
copy
of
the
charitable
organization’s
certificate
7
of
existence
issued
by
the
secretary
of
state
as
conclusive
8
evidence
that
the
domestic
or
foreign
corporation
is
in
good
9
standing.
10
c.
A
statement
that
on
information
or
belief
of
the
affiant,
11
the
property
owner
is
deceased
supported
by
a
death
certificate
12
of
the
decedent,
or
probate
notice
published
by
the
personal
13
representative
of
the
decedent’s
estate,
or
proof
of
payment
of
14
the
decedent’s
funeral
expenses,
or
the
decedent’s
obituary
as
15
verification
of
the
decedent’s
death.
16
d.
A
corporate
resolution
or
similar
statement
of
authority
17
of
the
affiant
to
act
on
behalf
of
the
charitable
organization.
18
e.
Federal
internal
revenue
service
form
W-9
completed
by
an
19
authorized
representative
of
the
charitable
organization.
20
4.
The
holder
of
the
property
shall
not
request
any
21
additional
personal
information
from
any
individual
employed
22
by,
or
serving
on
the
board
of
the
charitable
organization,
23
including
but
not
limited
to
any
of
the
following:
24
a.
Social
security
number
or
driver’s
license
number.
25
b.
Contact
information.
26
c.
Personal
financial
information.
27
5.
If
the
requirements
of
this
section
are
satisfied,
all
28
of
the
following
apply:
29
a.
The
decedent’s
property
shall
be
paid,
delivered,
30
or
transferred
to
or
for
the
benefit
of
the
charitable
31
organization
if
the
affidavit
has
requested
the
transfer
of
32
ownership
of
the
property
to
the
charitable
organization.
33
b.
A
transfer
agent
of
a
security
described
in
the
34
affidavit
shall
change
registered
ownership
on
the
books
of
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the
corporation
from
the
decedent
to
or
for
the
benefit
of
1
the
charitable
organization
if
the
affidavit
has
requested
2
the
transfer
of
ownership
of
the
property
to
the
charitable
3
organization.
4
c.
The
information
requested
in
the
affidavit
shall
be
5
delivered
to
the
organization.
6
6.
The
holder
of
the
property
and
any
person
who
in
good
7
faith
delivers
the
property
or
information
requested
in
8
reliance
on
information
a
charitable
organization
provides
9
under
this
section,
who
has
no
knowledge
that
representations
10
contained
in
the
affidavit
are
incorrect,
shall
not
be
liable
11
to
any
person
for
so
acting
and
may
assume
without
inquiry
the
12
existence
of
the
facts
contained
in
the
affidavit.
The
time
to
13
verify
a
charitable
organization’s
authority
shall
not
exceed
14
thirty
days
from
the
date
of
delivery
of
the
affidavit.
Any
15
right
or
title
acquired
from
the
charitable
organization
in
16
consideration
of
the
provision
of
property
or
information
under
17
this
section
is
not
invalid
in
consequence
of
misapplication
by
18
the
charitable
organization.
A
transaction
and
a
lien
created
19
by
a
transaction
entered
into
by
the
charitable
organization
20
and
anyone
acting
in
reliance
on
the
affidavit
under
this
21
section
is
enforceable
against
the
property
the
charitable
22
organization
has
requested.
23
7.
If
the
holder
of
the
property
refuses
to
provide
the
24
requested
property
or
information
within
thirty
days
after
25
receiving
the
affidavit,
the
charitable
organization
may
bring
26
an
action
against
the
holder
of
the
property
to
recover
the
27
property
or
receive
the
information
or
to
compel
the
delivery
28
of
the
property.
An
action
brought
under
this
section
must
be
29
brought
within
one
year
after
the
date
of
the
act
or
failure
to
30
act.
If
the
court
finds
that
the
holder
of
the
property
acted
31
unreasonably
in
failing
to
deliver
the
property
or
information
32
as
requested
in
the
affidavit,
the
court
may
award
to
the
33
charitable
organization
any
or
all
of
the
following:
34
a.
Damages
sustained
by
the
charitable
organization.
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b.
Costs
of
the
action.
1
c.
A
penalty
in
an
amount
determined
by
the
court
between
2
five
hundred
dollars
and
ten
thousand
dollars.
3
d.
Reasonable
attorney
fees
based
on
the
value
of
the
time
4
reasonably
expended
by
the
attorney
and
not
by
the
amount
of
5
the
recovery
on
behalf
of
the
charitable
organization.
6
EXPLANATION
7
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
8
the
explanation’s
substance
by
the
members
of
the
general
assembly.
9
This
bill
relates
to
probate
law
regarding
charitable
10
organizations
designated
as
beneficiaries
of
an
estate.
The
11
bill
allows
a
charitable
organization
to
present
an
affidavit
12
to
any
person
for
the
purpose
of
obtaining
property,
or
13
information
regarding
property,
owned
by
a
decedent
for
which
14
the
charitable
organization
is
a
designated
beneficiary.
15
The
bill
provides
the
representations
and
requirements
of
16
the
affidavit
presented.
The
bill
prohibits
a
person
from
17
requesting
any
additional
personal
information
of
an
individual
18
employed
by,
or
serving
on
the
board
of,
such
charitable
19
organization.
20
The
bill
provides
that
upon
completion
of
the
bill’s
21
requirements,
the
charitable
organization
shall
receive
the
22
decedent’s
property
as
the
beneficiary
and
a
transfer
agent
of
23
a
security
described
in
the
affidavit
shall
change
registered
24
ownership
on
the
books
of
the
corporation
from
the
decedent
to
25
or
for
the
benefit
of
the
successor.
The
bill
provides
that
26
a
person
in
good
faith
that
relies
upon
and
has
no
knowledge
27
that
the
representations
in
the
affidavit
are
incorrect
shall
28
not
be
liable
to
any
person
for
so
acting
in
reliance
of
the
29
affidavit.
The
person
who
received
the
request
has
30
days
to
30
verify
the
affidavit
and
provide
the
information
or
requested
31
property
to
the
charitable
organization.
Upon
failing
to
do
32
so
the
charitable
organization
may
bring
an
action
to
recover
33
the
property,
information,
or
to
compel
the
delivery
of
the
34
property
against
the
person
to
whom
the
charitable
organization
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presented
the
affidavit.
The
bill
allows
an
action
to
be
1
brought
within
one
year
after
the
date
of
the
act
or
failure
2
to
act.
If
the
charitable
organization
prevails
in
the
court
3
action,
the
court
may
also
award
damages
sustained,
costs
of
4
the
action,
a
penalty
determined
by
the
court
of
not
less
than
5
$500
and
not
more
than
$10,000,
and
reasonable
attorney
fees.
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