Bill > HB1517

This bill creates a new law that provides banking institutions with the discretion to allow a surviving spouse to take control of a deceased spouse's bank accounts, including checking and savings accounts. To do so, the bank must require specific documentation: a death certificate that lists the surviving spouse's name, along with two forms of government-issued identification, one of which must be a photo ID like a driver's license or passport. The name on the death certificate must match the name on the identification. The banking institution is required to make and maintain photo or digital copies of these documents for a period of ten years. This legislation aims to provide a clear, standardized process for transferring bank account control after a spouse's death, giving banks flexibility in how they handle such transitions while ensuring proper documentation and record-keeping. The law will take effect on November 1, 2025.

Business and Industry, Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1517&Session=2600