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A BILL TO BE ENTITLED
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AN ACT
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relating to access to a financial institution account of a person |
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who dies intestate. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subtitle D, Title 2, Estates Code, is amended by |
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adding Chapter 153 to read as follows: |
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CHAPTER 153. ACCESS TO INTESTATE'S ACCOUNT WITH FINANCIAL |
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INSTITUTION |
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Sec. 153.001. DEFINITIONS. In this chapter: |
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(1) "Account" has the meaning assigned by Section |
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113.001. |
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(2) "Financial institution" has the meaning assigned |
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by Section 201.101, Finance Code. |
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(3) "P.O.D. account" and "trust account" have the |
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meanings assigned by Section 113.004. |
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Sec. 153.002. INAPPLICABILITY OF CHAPTER. This chapter |
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does not apply to: |
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(1) an account with a beneficiary designation; |
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(2) a P.O.D. account; |
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(3) a trust account; or |
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(4) an account that provides for a right of |
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survivorship. |
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Sec. 153.003. COURT-ORDERED ACCESS TO INTESTATE'S ACCOUNT |
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INFORMATION. (a) In this section, "interested person" means an |
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heir, spouse, creditor, or any other having a property right in or |
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claim against the decedent's estate. |
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(b) On application of an interested person or on the court's |
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own motion, a court may issue an order requiring a financial |
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institution to release to the person named in the order information |
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concerning the balance of each account that is maintained at the |
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financial institution of a decedent who dies intestate if: |
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(1) 90 days have elapsed since the date of the |
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decedent's death; |
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(2) no petition for the appointment of a personal |
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representative for the decedent's estate is pending; and |
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(3) no letters testamentary or of administration have |
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been granted with respect to the estate. |
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SECTION 2. This Act takes effect September 1, 2015. |