What is the status of HB489?

Passed one chamber as of March 24, 2026. Latest action: Read second time by title and referred to the Committee on Commerce, Consumer Protection and International Affairs. (March 25, 2026).

Gadberry, Foy (R, 15), with 2 co-sponsors.

Where is the official record for HB489?

On the Louisiana Legislature website: https://legis.la.gov/legis/BillInfo.aspx?s=26RS&b=HB489

Louisiana legislation · 2026 Regular Session

Louisiana HB489: BANKS/BANKING: Provides with respect to "Transfer of Death" (TOD) beneficiary designations for investment accounts

Q: What is HB489?

HB489 is a bill in the Louisiana Legislature (2026 Regular Session): BANKS/BANKING: Provides with respect to "Transfer of Death" (TOD) beneficiary designations for investment accounts.

Q: What does HB489 do?

In its own words: An act To amend and reenact R.S. 9:1711, 1711.2(A), 1711.4, and 1711.6(C), relative to the Louisiana Uniform Transfer On Death Security Registration Act; to provide for legislative findings and intent; to provide for definitions; to provide for registration of securities in beneficiary form; to provide for effects of a security registered in beneficiary form; to provide exemptions for liability; to provide for legislative purpose; to provide for an effective date; and to provide for related matters.

Status: Passed one chamber, March 24, 2026

What the bill says

An act To amend and reenact R.S. 9:1711, 1711.2(A), 1711.4, and 1711.6(C), relative to the Louisiana Uniform Transfer On Death Security Registration Act; to provide for legislative findings and intent; to provide for definitions; to provide for registration of securities in beneficiary form; to provide for effects of a security registered in beneficiary form; to provide exemptions for liability; to provide for legislative purpose; to provide for an effective date; and to provide for related matters.

From the introduced text:

AN ACT To amend and reenact R.S. 9:1711, 1711.2(A), 1711.4, and 1711.6(C), relative to the Louisiana Uniform Transfer On Death Security Registration Act; to provide for legislative findings and intent; to provide for definitions; to provide for registration of securities in beneficiary form; to provide for effects of a security registered in beneficiary form; to provide exemptions for liability; to provide for legislative purpose; to provide for an effective date; and to provide for related matters. Be it enacted by the Legislature of Louisiana: Section 1. R.S. 9:1711, 1711.2(A), 1711.4, and 1711.6(C) are hereby amended and reenacted to read as follows: §1711. Findings; purpose; Definitions definitions A. The legislature finds that: (1) Louisiana law authorizes payable-on-death or transfer-on-death beneficiary designations for bank accounts, credit unions, savings associations, life insurance, and retirement accounts. (2) Investment and brokerage accounts often represent a significant portion of a family's non-retirement assets. Page 1 of CODING: Words in struck through type are deletions from existing law; words underscored are additions. HLS 26RS-563 ORIGINAL HB NO. (3) Lack of clarity regarding transfer-on-death registration for securities has resulted in frozen accounts, unnecessary probate delays, exposure to market risk, and financial hardship for Louisiana families. (4) Clarification is necessary to ensure consistent implementation while preserving Louisiana succession, community property, and forced heirship principles. B. The legislature intends this …

Read the full official text

Louisiana HB489: BANKS/BANKING: Provides with respect to "Transfer of Death" (TOD) beneficiary designations for investment accounts

What the bill says

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