Bill > H7283

This bill amends existing law to allow a duly authorized administrator or executor of an estate, upon presenting proof of their appointment and personal identification, to request all funds belonging to the deceased person that are held by any financial institution, and these funds must be provided on the same day of the request without any additional fees. An administrator or executor is a person legally appointed to manage the assets and debts of someone who has died, and this bill clarifies their ability to access the deceased's money held in banks or other financial institutions quickly and without cost, which is particularly important for managing the decedent's estate. The bill also states that the department of business regulation can impose penalties for violations of this new provision and that the changes will take effect immediately upon being passed into law.

Justice

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