2011 Senate Bill 456

Require joint bank account customer disclosures

Introduced in the Senate

June 15, 2011

Introduced by Sen. Coleman Young (D-1)

To require savings banks to disclose to individuals opening a joint account the particular characteristics of these accounts, including what happens when one account owner dies, and the fact that each account owner has the right to remove money from the account.

Referred to the Committee on Families, Seniors, and Human Services

Nov. 1, 2011

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Nov. 3, 2011

Substitute offered

The substitute passed by voice vote

Passed in the Senate 38 to 0 (details)

Received in the House

Nov. 3, 2011

Referred to the Committee on Banking and Financial Services