HB1081: Distributions to charitable beneficiaries.

Legislative Summary

Distributions to charitable beneficiaries. Provides that an applicant for a certificate of death has a direct interest in a certificate of death if the applicant is a beneficiary of the deceased's individual retirement account, retirement account, brokerage transfer on death account, annuity, or life insurance policy. Provides that if a charitable organization is designated as the beneficiary of an individual retirement account, retirement account, brokerage transfer on death account, annuity, or life insurance policy, a financial institution or insurance company in control of the funds must transfer the funds directly to the charitable organization without requiring certain conditions to be satisfied, if the: (1) charitable organization submits a certain affidavit.