Text: SF02154 Text: SF02156 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 524.810A, subsection 1, unnumbered 1 2 paragraph 1, Code 2003, is amended to read as follows: 1 3 A bank shall permit a person named in and authorized by a 1 4 court order to open, examine, and remove the contents of a 1 5 safe deposit box located at the bank. If a court order has 1 6 not been delivered to the bank, the following persons may 1 7 access and remove any or all contents of a safe deposit box 1 8 located at a state bankandwhich box is described in an 1 9 ownership or rental agreement or lease between the state bank 1 10 and a deceased owner or lessee: 1 11 Sec. 2. Section 524.810A, subsection 1, paragraph e, Code 1 12 2003, is amended to read as follows: 1 13 e. A trustee of a trust created by the deceased owner or 1 14 lessee upon delivery to the state bank ofa copy of the trust1 15together with an affidavit by the trusteeeither of the 1 16 following: 1 17 (1) A certification of trust pursuant to section 633.4604 1 18 which certifies that the trust property is reasonably believed 1 19 to include property in the safe deposit box. 1 20 (2) A copy of the trust with an affidavit by the trustee 1 21 which certifies that a copy of the trust delivered to the 1 22 state bank with the affidavit is an accurate and complete copy 1 23 of the trust, that the trustee is the duly authorized and 1 24 acting trustee under the trust, that the trust property 1 25includesis reasonably believed to include property in the 1 26 safe deposit box, and that, to the knowledge of the trustee, 1 27 the trust has not been revoked. 1 28 Sec. 3. Section 533.49E, subsection 1, unnumbered 1 29 paragraph 1, Code 2003, is amended to read as follows: 1 30 A credit union shall permit a person named in and 1 31 authorized by a court order to open, examine, and remove the 1 32 contents of a safe deposit box located at the credit union. 1 33 If a court order has not been delivered to the credit union, 1 34 the following persons may access and remove any or all 1 35 contents of a safe deposit box located at a state credit union 2 1andwhich box is described in an ownership or rental agreement 2 2 or lease between the state credit union and a deceased owner 2 3 or lessee: 2 4 Sec. 4. Section 533.49E, subsection 1, paragraph e, Code 2 5 2003, is amended to read as follows: 2 6 e. A trustee of a trust created by the deceased owner or 2 7 lessee upon delivery to the state credit union ofa copy of2 8the trust together with an affidavit by the trusteeeither of 2 9 the following: 2 10 (1) A certification of trust pursuant to section 633.4604 2 11 which certifies that the trust property is reasonably believed 2 12 to include property in the safe deposit box. 2 13 (2) A copy of the trust with an affidavit by the trustee 2 14 which certifies that a copy of the trust delivered to the 2 15 state credit union with the affidavit is an accurate and 2 16 complete copy of the trust, that the trustee is the duly 2 17 authorized and acting trustee under the trust, that the trust 2 18 propertyincludesis reasonably believed to include property 2 19 in the safe deposit box, and that to the knowledge of the 2 20 trustee the trust has not been revoked. 2 21 EXPLANATION 2 22 This bill relates to safe deposit box access by a trustee 2 23 of a trust created by the deceased owner or lessee of the safe 2 24 deposit box. The bill allows such a trustee to present a 2 25 certification of trust to a bank or a credit union to gain 2 26 access to the contents of a deceased owner's or lessee's safe 2 27 deposit box. The requirements for a certification of trust 2 28 are contained in Code section 633.4604. The certification 2 29 must contain a statement that the trust has not been revoked, 2 30 modified, or amended in any manner which would cause the 2 31 representations contained in the certification to be incorrect 2 32 and must contain a statement that it is being signed by all of 2 33 the currently acting trustees of the trust and is sworn and 2 34 subscribed to under penalty of perjury before a notary public. 2 35 LSB 5146SV 80 3 1 rh/pj/5
Text: SF02154 Text: SF02156 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
© 2004 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Apr 13 03:30:00 CDT 2004
URL: /DOCS/GA/80GA/Legislation/SF/02100/SF02155/040219.html
jhf