HB178 Alabama 2012 Session
Bill Summary
Under existing law, securities and brokerage accounts may have beneficiary designations that take effect upon the death of the account owner
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
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.
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 |