CHARITABLE ORG BFY-PROBATE

From the Legislature

Reinserts the provisions of the introduced bill with the following changes. Requires that the notice of death to the owner of property include the exact language of the beneficiary designation except that the names of any other beneficiaries that are not charitable organizations may be redacted. Provides that nothing in the Act alters the duties of the holder of the property under the Revised Uniform Unclaimed Property Act or the Unclaimed Life Insurance Benefits Act. Requires that the holder of the property must provide notice to each charitable organization listed under the beneficiary designation that the charitable organization may have a right to the property within 45 business days of the death of the owner of the property. Deletes provisions that provide that (i) any right or title acquired from the charitable organization in consideration of the provision of property or information under the Act is not invalid because of an inadvertent misapplication by the charitable organization; and (ii) a transaction and a lien created by a transaction entered into by the charitable organization and anyone acting in reliance on the affidavit under the Act is enforceable against the property. Provides that if the holder of the property fails or refuses to provide the requested property or information within 60 business days after receiving the affidavit, the charitable organization may bring an action against the holder of the property to receive the information about the property or recover the property or compel the delivery of the property. Provides that the court may award reasonable attorney's fees based on the time expended by the attorney to obtain the requested information or payment, delivery, or transfer of the property without regard to the amount of the recovery on behalf of the charitable organization. Deletes the requirement that verification of a charitable organization's authority may not exceed 30 days from the date of delivery of the affidavit.