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CT HB05047

Bill

Official Source

Status

Introduced

2/11/2020

Primary Sponsor

Banking Committee

Click for details

Origin

House of Representatives

2020 General Assembly

AI Summary

  • Amends Connecticut General Statutes section 36a-290(b) regarding the presumption of ownership in joint bank accounts, effective October 1, 2020
  • Changes the evidentiary standard from "clear and convincing evidence" to "a preponderance of the evidence" to rebut the presumption that joint account owners intend for the surviving account holder to inherit the account
  • Joint account establishment remains prima facie evidence of intent for survivors to vest title to the account, including all subsequent deposits and additions, unless rebutted by fraud, undue influence, or evidence to the contrary
  • Applies to actions or proceedings between two or more depositors regarding ownership of the account or its proceeds
  • Stated purpose is to protect the interests of elderly or deceased depositors and their heirs from inappropriate use of joint accounts

Legislative Description

An Act Concerning The Presumption Of Ownership In Joint Bank Accounts.

Last Action

Public Hearing 03/10

3/4/2020

Committee Referrals

Banking2/11/2020

Full Bill Text

No bill text available