HB178 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Security transfer of securities and security accounts, Sec. 8-6-140 am'd
Description
<p class="bill_description"> Under existing law, securities and brokerage
accounts may have beneficiary designations that
take effect upon the death of the account owner</p><p class="bill_description">
This act would broaden the types of accounts
that may contain transfer-on-death obligations to
include securities, brokerage, investment
management, and custody accounts maintained by any
securities broker or dealer, bank, or other
depository institution, trust company, investment
adviser, or other financial institution</p><p class="bill_entitled_an_act"> To amend Section 8-6-140, Code of Alabama 1975,
relating to the transfer of securities and security accounts
upon the death of the owner, to broaden the types of accounts
that may contain transfer-on-death obligations to include
securities, brokerage, investment management, and custody
accounts maintained by any securities broker or dealer, bank,
or other depository institution, trust company, investment
adviser, or other financial institution, and to provide for
the effective date of this act.
</p>
Subjects
Finance
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 26, 2012 | Clouse motion to Indefinitely Postpone adopted Voice Vote | |
| April 26, 2012 | Clouse motion to Substitute a Companion Bill adopted Voice Vote | |
| April 26, 2012 | Third Reading Indefinitely Postponed | |
| February 16, 2012 | Read for the second time and placed on the calendar | |
| February 7, 2012 | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB178 Alabama 2012 Session - Introduced |