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