Chapter 369
AN ACT
HB 2359
Relating to affidavits of persons claiming deposits of decedents;
creating new provisions; and amending ORS 708A.430, 722.262 and 723.466.
Be It Enacted by the People of
the State of
SECTION 1.
ORS 708A.430 is amended to read:
708A.430. (1) On the
death of a depositor of a financial institution, if the deposit is $25,000 or
less, the financial institution may, upon receipt of an affidavit from the
person claiming the deposit as provided in subsection (2) of this section, pay
the moneys on deposit to the credit of the deceased depositor:
(a) To the surviving
spouse on demand of the surviving spouse at any time after the death of the
depositor;
(b) If there is no
surviving spouse, to the Department of Human Services, on demand of the
department [within 60] no less
than 46 days and no more than 75 days from the death of the depositor [where] when there is a preferred
claim arising under ORS 411.708, 411.795 or 414.105[, or];
(c) If there is no
surviving spouse and no department claim,[if there is no claim by the
department,] to the depositor’s surviving children 18 years of age
or older;
[(c)] (d) If [the
depositor left] there is no surviving spouse, [Department of Human Services] department claim or surviving
[children] child 18 years of age
or older, to the depositor’s surviving parents; or
[(d)] (e) If there is no surviving spouse, [Department of Human Services] department
claim, surviving child 18 years of age or older or surviving parent, to
the depositor’s surviving brothers and sisters 18 years of age or older.
(2) The affidavit shall:
(a) State where and when
the depositor died;
(b) State that the total
deposits of the deceased depositor in all financial institutions in
(c) Show the
relationship of the affiant [or affiants]
to the deceased depositor; and
(d) Embody a promise to
pay the expenses of last sickness, funeral expenses and just debts of the
deceased depositor out of the deposit to the full extent of the deposit
if necessary, in the order of priority prescribed by ORS 115.125, and to
distribute any remaining moneys to the persons who are entitled to those moneys
by law.
(3) In the event the [decedent] depositor died
intestate without known heirs, an estate administrator of the Department of
State Lands appointed under ORS 113.235 shall be the affiant and shall receive
the moneys as escheat property.
(4) The financial
institution shall determine the relationship of the affiant to the deceased
depositor[,]. However,
payment of [such] the moneys
in good faith to the affiant [or affiants
shall discharge and release] discharges and releases the transferor
from any liability or responsibility for the transfer in the same manner and
with the same effect as if the property had been transferred, delivered or paid
to a personal representative of the estate of the [decedent] deceased depositor.
(5) A probate proceeding
is not necessary to establish the right of the surviving spouse, [Department of Human Services claim] department,
surviving child, surviving parent, surviving brothers and sisters or an estate
administrator of the Department of State Lands to withdraw the deposits upon
the filing of the affidavit. If a personal representative is appointed in an
estate where a withdrawal of deposits was made under this section, the person
withdrawing the deposits shall account for them to the personal representative.
(6) When a financial
institution transfers moneys under subsection (1) of this section, the
transferor may require the transferee to furnish the transferor a written
indemnity agreement, indemnifying the transferor against loss for moneys paid
to the extent of the amount of the deposit.
(7) This section is
subject to the rights of other parties in the account under ORS 708A.455 to
708A.515.
SECTION 2.
ORS 722.262 is amended to read:
722.262. (1) On the
death of an account holder or a holder of a demand deposit account, if the
savings liability of an association or federal association on all savings accounts
of the deceased, and the amounts held in all demand deposit accounts of the
deceased, is $25,000 or less, the association or federal association may, upon
receipt of an affidavit from the person claiming the account as provided in
subsection (2) of this section, pay the withdrawal value of the accounts of
the deceased holder:
(a) To the surviving
spouse on demand of the surviving spouse at any time after the death of the
holder;
[(b) If there is no surviving spouse, to the surviving children 18 years
of age or older;]
[(c) If there is no surviving spouse or surviving children 18 years of
age or older, to the surviving parents; or]
[(d) If there is no surviving spouse, surviving child 18 years of age or
older or surviving parent, to the surviving brothers and sisters 18 years of
age or older.]
[(2) If the deceased account holder or holder of a demand deposit
account received public assistance pursuant to ORS chapter 411 or 414, the
Department of Human Services may claim such withdrawal value by filing an
affidavit in the form prescribed by subsection (3) of this section and the
Department of Human Services shall be preferred to all other claimants except a
surviving spouse.]
(b) If there is no
surviving spouse, to the Department of Human Services, on demand of the
department no less than 46 days and no more than 75 days from the death of the
holder if the holder received public assistance under ORS 411.708, 411.795 or
414.105;
(c) If there is no
surviving spouse and no department claim, to the holder’s surviving children 18
years of age or older;
(d) If there is no
surviving spouse, department claim or surviving child 18 years of age or older,
to the holder’s surviving parent; or
(e) If there is no
surviving spouse, department claim, surviving child 18 years of age or older or
surviving parent, to the holder’s surviving brothers and sisters 18 years of
age or older.
[(3)] (2) The affidavit [of
the person or the Department of Human Services claiming the account] shall:
(a) State where and when
the account holder or holder of a demand deposit account died;
(b) State that the total
withdrawal value of all savings and demand deposit accounts of the deceased
holder in all associations in Oregon, including federal associations, does not
exceed $25,000;
(c) Show the
relationship of the affiant [or affiants]
to the deceased holder; and
(d) Embody a promise to
pay the expenses of last sickness, funeral expenses and just debts of the
deceased holder out of the account to the full extent of the account if
necessary, in the order of priority prescribed by ORS 115.125, and to
distribute any remaining moneys to the persons who are entitled to those moneys
by law.
[(4)] (3) In the event the [decedent] holder died intestate without known heirs, an
estate administrator of the Department of State Lands appointed under ORS
113.235 shall be the affiant and shall receive the withdrawal value of the
accounts as escheat property.
[(5)] (4) A savings association or federal association is
under no obligation to determine the relationship of the affiant to the
deceased holder. Payment made in good faith to the person or the
Department of Human Services or an estate administrator of the Department of
State Lands making the affidavit is a full acquittance and release of the association
or federal association for the amount so paid.
[(6)] (5) A probate proceeding is not necessary to establish
the right of the surviving spouse, department, surviving children,
surviving parent or surviving brothers and sisters to withdraw an account as
provided by this section. However, if a personal representative is appointed in
an estate of a deceased [person] holder
whose account has been withdrawn under this section, the person [or the Department of Human Services]
withdrawing the account shall account for it to the personal representative.
SECTION 3.
ORS 723.466 is amended to read:
723.466. (1) On the
death of a member of a credit union, if the deposit to the credit of the
deceased member is $25,000 or less, the credit union may, upon receipt of an
affidavit from the person claiming the deposit as provided in subsection (2) of
this section, pay the moneys on deposit:
(a) To the surviving
spouse on demand of the surviving spouse at any time after the death of the
member;
(b) If there is no
surviving spouse, to the Department of Human Services, on demand of the [Department of Human Services within 60] department
no less than 46 days and no more than 75 days from the death of the member
when there is a preferred claim arising under ORS 411.708, 411.795 or 414.105[, or];
(c) If there is no surviving spouse and no
department claim [by the Department
of Human Services], to the member’s surviving children 18 years of
age or older;
[(c)] (d) If there is no surviving spouse, [Department of Human Services] department
claim or surviving [children]
child 18 years of age or older, to the member’s surviving parents; or
[(d)] (e) If there is no surviving spouse, [Department of Human Services] department
claim, surviving [children] child
18 years of age or older or surviving [parents]
parent, to the member’s surviving brothers and sisters 18 years of age
or older.
(2) The affidavit shall:
(a) State where and when
the member died;
(b) State that the total
deposits of the deceased member in all financial institutions in this state do
not exceed $25,000;
(c) Show the
relationship of the affiant [or affiants]
to the deceased member; and
(d) Embody a promise to
pay the expenses of last sickness, funeral expenses and just debts of the
deceased member out of the deposit, to the full extent of the deposit if
necessary, in the order of priority prescribed by ORS 115.125, and to
distribute any remaining moneys to the persons who are entitled to those moneys
by law.
(3) In the event the [decedent] member died intestate
without known heirs, an estate administrator of the Department of State Lands
appointed under ORS 113.235 shall be the affiant and shall receive the moneys
as escheat property.
(4) The credit union
shall determine the relationship of the affiant to the deceased member.
However, payment of [such] the
moneys in good faith to the affiant [or
affiants shall discharge and release] discharges and releases the
transferor from any liability or responsibility for the transfer in the same
manner and with the same effect as if the property had been transferred,
delivered or paid to a personal representative of the estate of the [decedent] deceased member.
(5) A probate proceeding
is not necessary to establish the right of the surviving spouse, [Department of Human Services claim]
department, surviving children, surviving parents, surviving brothers and
sisters or an estate administrator of the Department of State Lands to withdraw
the deposits upon the filing of the affidavit. If a personal representative is appointed
in an estate where a withdrawal of deposits was made under this section, the
person withdrawing the deposits shall account for them to the personal
representative.
(6) When a credit union
transfers moneys under subsection (1) of this section, the transferor may
require the transferee to furnish the transferor with a written indemnity
agreement, indemnifying the transferor against loss for moneys paid to the
extent of the amount of the deposit.
(7) This section is
subject to the rights of other parties to the account under ORS 723.474 to
723.498.
SECTION 4. The
amendments to ORS 708A.430, 722.262 and 723.466 by sections 1, 2 and 3 of this
2007 Act apply to a deposit of a person whose death occurs on or after the
effective date of this 2007 Act.
Approved by the Governor June 12, 2007
Filed in the office of Secretary of State June 13, 2007
Effective date January 1, 2008
__________