Senate File 2155
SENATE FILE
BY COMMITTEE ON JUDICIARY
(SUCCESSOR TO SSB 3025)
Passed Senate, Date Passed House, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to safe deposit box access by a trustee of a
2 trust created by the deceased owner or lessee of the safe
3 deposit box.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
5 TLSB 5146SV 80
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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 bank and which 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 of a copy of the trust
1 15 together with an affidavit by the trustee either 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 25 includes is 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1 27 the trust has not been revoked.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 1 and which 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 of a copy of
2 8 the trust together with an affidavit by the trustee either 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 property includes is 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
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