74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
Enrolled
House Bill 2359
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
Presession filed (at the request of House Interim Committee on
Judiciary for Oregon State Bar Elder Law Section)
CHAPTER ................
AN ACT
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 Oregon:
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 Oregon do not exceed $25,000;
(c) Show the relationship of the affiant { - or affiants - }
to the deceased depositor; and
Enrolled House Bill 2359 (HB 2359-A) Page 1
(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
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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
Enrolled House Bill 2359 (HB 2359-A) Page 3
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,
Enrolled House Bill 2359 (HB 2359-A) Page 4
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. + }
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Passed by House February 26, 2007
Repassed by House May 22, 2007
...........................................................
Chief Clerk of House
...........................................................
Speaker of House
Passed by Senate May 18, 2007
...........................................................
President of Senate
Enrolled House Bill 2359 (HB 2359-A) Page 5
Received by Governor:
......M.,............., 2007
Approved:
......M.,............., 2007
...........................................................
Governor
Filed in Office of Secretary of State:
......M.,............., 2007
...........................................................
Secretary of State
Enrolled House Bill 2359 (HB 2359-A) Page 6