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House File 515 - IntroducedA Bill ForAn Act 1relating to probate law, including charitable
2organizations as named beneficiaries.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 633.358 Charitable organization
2beneficiary affidavit and third-party protection.
31. A charitable organization, as defined in section
415E.311, may present an affidavit to any person for the purpose
5of obtaining property, or information regarding property, owned
6by a decedent for which the charitable organization is a named
7beneficiary.
82. To collect the property owned by the decedent,
9the charitable organization shall furnish to the person
10an affidavit under penalty of perjury stating all of the
11following:
12a. The decedent’s name and last known address.
13b. A general description of the property of the decedent
14that is to be paid or transferred to the charitable
15organization.
16c. The charitable organization’s name, address, and primary
17contact information.
18d. A statement requesting that the property to be paid or
19transferred to the charitable organization.
20e. Affirmation that the charitable organization’s
21tax-exempt status has not been revoked, modified, or amended
22in any manner which would cause the representations in the
23affidavit to be incorrect.
24f. A statement confirming that no inheritance, income,
25property, or other taxes are owed to the department of revenue,
26local governments, or the federal internal revenue service on
27the property listed in the affidavit.
28g. A statement that no persons, other than the charitable
29organization, have a right to the interest in the decedent’s
30property listed in the affidavit.
31h. A statement that the information in the affidavit is true
32and correct.
333. The affidavit shall be signed by an officer of the
34charitable organization, sworn and subscribed to under penalty
35of perjury before a notary, and be accompanied with all of the
-1-1following:
2a. A photocopy of the charitable organization’s tax-exempt
3status from the federal internal revenue service.
4b. A death certificate of the property owner if the person
5has not been notified of the decedent’s death.
6c. A corporate resolution or similar statement of authority
7to act on behalf of the organization.
8d. Federal internal revenue service form W-9 completed by
9the charitable organization.
104. A person receiving an affidavit under this section
11shall not request any additional personal information from
12any individual employed by, or serving on the board of, such
13charitable organization, including but not limited to any of
14the following personal information from any individual:
15a. Social security number.
16b. Contact information.
17c. Financial information.
185. If the requirements of this section are satisfied, all
19of the following apply:
20a. The decedent’s property shall be paid, delivered, or
21transferred to or for the benefit of the successor.
22b. A transfer agent of a security described in the
23affidavit shall change registered ownership on the books of
24the corporation from the decedent to or for the benefit of the
25successor.
266. A person who in good faith relies on the property
27or information a charitable organization provides under
28this section, who has no knowledge that the representations
29contained in the affidavit are incorrect, shall not be liable
30to any person for so acting and may assume without inquiry the
31existence of the facts contained in the affidavit. The period
32of time to verify a charitable organization’s authority shall
33not exceed thirty days from the date the person received the
34affidavit. Any right or title acquired from the charitable
35organization in consideration of the provision of property or
-2-1information under this section is not invalid in consequence of
2misapplication by the charitable organization. A transaction
3and a lien created by a transaction, entered into by the
4charitable organization and a person acting in reliance on the
5affidavit under this section, is enforceable against the assets
6the charitable organization has requested.
77. If a person refuses to provide the requested property
8or information within thirty days of receiving the affidavit,
9the charitable organization may bring an action to recover
10the property or information, or to compel the delivery of
11the property, against the person to whom the charitable
12organization presented the affidavit. An action brought under
13this section must be brought within one year after the date
14of the act or failure to act. If the court finds that the
15person acted unreasonably in failing to deliver the property or
16information as requested in the affidavit, the court may award
17to the charitable organization any of the following:
18a. Damages sustained.
19b. Costs of the action.
20c. A penalty in an amount determined by the court between
21five hundred dollars and ten thousand dollars.
22d. Reasonable attorney fees based on the value of the time
23reasonably expended by the attorney and not by the amount of
24the recovery on behalf of the charitable organization.
258. This section does not limit or change the rights of
26beneficiaries, heirs, or creditors to estate property to which
27they are otherwise entitled.
28EXPLANATION
29The inclusion of this explanation does not constitute agreement with
30the explanation’s substance by the members of the general assembly.
31This bill relates to probate law regarding charitable
32organizations named as beneficiaries of an estate. The bill
33allows a charitable organization to present an affidavit
34to any person for the purpose of obtaining property, or
35information regarding property, owned by a decedent for which
-3-1the charitable organization is a named beneficiary. The bill
2provides the representations and requirements of the affidavit
3presented. The bill prohibits a person from requesting any
4additional personal information of an individual employed by,
5or serving on the board of, such charitable organization.
6The bill provides that upon completion of the bill’s
7requirements, the charitable organization shall receive the
8decedent’s property as the beneficiary and a transfer agent of
9a security described in the affidavit shall change registered
10ownership on the books of the corporation from the decedent to
11or for the benefit of the successor. The bill provides that
12a person in good faith that relies upon and has no knowledge
13that the representations in the affidavit are incorrect shall
14not be liable to any person for so acting in reliance of the
15affidavit. The person who received the request has 30 days to
16verify the affidavit and provide the information or requested
17property to the charitable organization. Upon failing to do
18so the charitable organization may bring an action to recover
19the property, information, or to compel the delivery of the
20property against the person to whom the charitable organization
21presented the affidavit. The bill allows an action to be
22brought within one year after the date of the act or failure
23to act. If the charitable organization prevails in the court
24action, the court may also award damages sustained, costs of
25the action, a penalty determined by the court of not less than
26$500 and not more than $10,000, and reasonable attorney fees.
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2organizations as named beneficiaries.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 633.358 Charitable organization
2beneficiary affidavit and third-party protection.
31. A charitable organization, as defined in section
415E.311, may present an affidavit to any person for the purpose
5of obtaining property, or information regarding property, owned
6by a decedent for which the charitable organization is a named
7beneficiary.
82. To collect the property owned by the decedent,
9the charitable organization shall furnish to the person
10an affidavit under penalty of perjury stating all of the
11following:
12a. The decedent’s name and last known address.
13b. A general description of the property of the decedent
14that is to be paid or transferred to the charitable
15organization.
16c. The charitable organization’s name, address, and primary
17contact information.
18d. A statement requesting that the property to be paid or
19transferred to the charitable organization.
20e. Affirmation that the charitable organization’s
21tax-exempt status has not been revoked, modified, or amended
22in any manner which would cause the representations in the
23affidavit to be incorrect.
24f. A statement confirming that no inheritance, income,
25property, or other taxes are owed to the department of revenue,
26local governments, or the federal internal revenue service on
27the property listed in the affidavit.
28g. A statement that no persons, other than the charitable
29organization, have a right to the interest in the decedent’s
30property listed in the affidavit.
31h. A statement that the information in the affidavit is true
32and correct.
333. The affidavit shall be signed by an officer of the
34charitable organization, sworn and subscribed to under penalty
35of perjury before a notary, and be accompanied with all of the
-1-1following:
2a. A photocopy of the charitable organization’s tax-exempt
3status from the federal internal revenue service.
4b. A death certificate of the property owner if the person
5has not been notified of the decedent’s death.
6c. A corporate resolution or similar statement of authority
7to act on behalf of the organization.
8d. Federal internal revenue service form W-9 completed by
9the charitable organization.
104. A person receiving an affidavit under this section
11shall not request any additional personal information from
12any individual employed by, or serving on the board of, such
13charitable organization, including but not limited to any of
14the following personal information from any individual:
15a. Social security number.
16b. Contact information.
17c. Financial information.
185. If the requirements of this section are satisfied, all
19of the following apply:
20a. The decedent’s property shall be paid, delivered, or
21transferred to or for the benefit of the successor.
22b. A transfer agent of a security described in the
23affidavit shall change registered ownership on the books of
24the corporation from the decedent to or for the benefit of the
25successor.
266. A person who in good faith relies on the property
27or information a charitable organization provides under
28this section, who has no knowledge that the representations
29contained in the affidavit are incorrect, shall not be liable
30to any person for so acting and may assume without inquiry the
31existence of the facts contained in the affidavit. The period
32of time to verify a charitable organization’s authority shall
33not exceed thirty days from the date the person received the
34affidavit. Any right or title acquired from the charitable
35organization in consideration of the provision of property or
-2-1information under this section is not invalid in consequence of
2misapplication by the charitable organization. A transaction
3and a lien created by a transaction, entered into by the
4charitable organization and a person acting in reliance on the
5affidavit under this section, is enforceable against the assets
6the charitable organization has requested.
77. If a person refuses to provide the requested property
8or information within thirty days of receiving the affidavit,
9the charitable organization may bring an action to recover
10the property or information, or to compel the delivery of
11the property, against the person to whom the charitable
12organization presented the affidavit. An action brought under
13this section must be brought within one year after the date
14of the act or failure to act. If the court finds that the
15person acted unreasonably in failing to deliver the property or
16information as requested in the affidavit, the court may award
17to the charitable organization any of the following:
18a. Damages sustained.
19b. Costs of the action.
20c. A penalty in an amount determined by the court between
21five hundred dollars and ten thousand dollars.
22d. Reasonable attorney fees based on the value of the time
23reasonably expended by the attorney and not by the amount of
24the recovery on behalf of the charitable organization.
258. This section does not limit or change the rights of
26beneficiaries, heirs, or creditors to estate property to which
27they are otherwise entitled.
28EXPLANATION
29The inclusion of this explanation does not constitute agreement with
30the explanation’s substance by the members of the general assembly.
31This bill relates to probate law regarding charitable
32organizations named as beneficiaries of an estate. The bill
33allows a charitable organization to present an affidavit
34to any person for the purpose of obtaining property, or
35information regarding property, owned by a decedent for which
-3-1the charitable organization is a named beneficiary. The bill
2provides the representations and requirements of the affidavit
3presented. The bill prohibits a person from requesting any
4additional personal information of an individual employed by,
5or serving on the board of, such charitable organization.
6The bill provides that upon completion of the bill’s
7requirements, the charitable organization shall receive the
8decedent’s property as the beneficiary and a transfer agent of
9a security described in the affidavit shall change registered
10ownership on the books of the corporation from the decedent to
11or for the benefit of the successor. The bill provides that
12a person in good faith that relies upon and has no knowledge
13that the representations in the affidavit are incorrect shall
14not be liable to any person for so acting in reliance of the
15affidavit. The person who received the request has 30 days to
16verify the affidavit and provide the information or requested
17property to the charitable organization. Upon failing to do
18so the charitable organization may bring an action to recover
19the property, information, or to compel the delivery of the
20property against the person to whom the charitable organization
21presented the affidavit. The bill allows an action to be
22brought within one year after the date of the act or failure
23to act. If the charitable organization prevails in the court
24action, the court may also award damages sustained, costs of
25the action, a penalty determined by the court of not less than
26$500 and not more than $10,000, and reasonable attorney fees.
-4-cm/ns