House Journal: Page 330: Wednesday, February 13, 2002
SENATE MESSAGE CONSIDERED
Senate File 2134, by committee on commerce, a bill for an act
relating to the transfer of certain deposit and investment accounts
upon the death of the decedent.
Read first time and passed on file.
House File 2208, a bill for an act relating to the transfer of
certain deposit and investment accounts upon the death of the
decedent, was taken up for consideration.
Kettering of Sac offered the following amendment H-8035 filed by
him and moved its adoption:
1 Amend House File 2208 as follows:
2 1. Page 1, by striking lines 3 through 21 and
3 inserting the following:
4 "8. a state bank may receive deposits from one or
5 more persons with the provision that upon the death of
6 the depositors the deposit account shall be the
7 property of the person or persons designated by the
8 deceased depositors as shown on the deposit account
9 records of the state bank.
The account is subject to
the debts of the deceased depositors and the payment
of Iowa inheritance tax provided, that upon the
expiration of six months after the date of death of
the deceased depositors, the receipt or acquittance of
the persons designated is a valid and sufficient
release and discharge of the state bank for the
delivery of any part or all of the account After
17 payment by the state bank, the proceeds shall remain
18 subject to the debts of the decedent and the payment
19 of Iowa inheritance tax, if any. a state bank paying
20 the person or persons designated shall not be liable
21 as a result of that action for any debts of the
22 decedent or for any estate, inheritance, or succession
23 taxes which may be due this state."
Amendment H-8035 was adopted.
SENATE FILE 2134 SUBSTITUTED FOR HOUSE FILE 2208
Kettering of Sac asked and received unanimous consent to
substitute Senate File 2134 for House File 2208.
© 2002 Cornell College and
League of Women Voters of Iowa
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Last update: Thu Feb 14 13:30:01 CST 2002