LA SB262

Creates new Chapter 19-A in Title 6 establishing uniform procedures for transfer on death (TOD) accounts at banks, credit unions, mutual associations, and investment management companies, effective August 1, 2026

Requires beneficiary designations or changes to be executed by authentic act in person at a financial institution office; electronic submissions are void and designations cannot be made via power of attorney

Entitles designated beneficiaries to receive TOD account funds upon the owner's death, exempt from probate claims by the owner's estate, heirs, legatees, or forced heirs

Shields financial institutions and beneficiaries from liability when transferring funds to properly designated beneficiaries, while preserving the right to challenge designations based on vices of consent (fraud, duress, error)

Repeals existing separate statutes governing TOD accounts for banks (R.S. 6:314), credit unions (R.S. 6:653.1), mutual associations (R.S. 6:766.1), and the Louisiana Uniform Transfer on Death Security Registration Act (R.S. 9:1711.1-1711.9)