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2017 Tennessee Code
Title 45 - Banks and Financial Institutions
Chapter 2 - Banking Institutions
Part 7 - Deposits in Banks
§ 45-2-712. Acknowledgement or affidavit; guaranty.
Universal Citation: TN Code § 45-2-712 (2017)
- (a) A bank shall require any persons seeking to cash checks payable to a decedent as provided in § 45-2-711 to deliver to the bank an affidavit, given under the penalty of perjury, in a form acceptable to the bank that, at the minimum, contains the following:
- (1) The name of the decedent;
- (2) The decedent's date of death;
- (3) The amount and payor of any checks, if the funds are from checks or electronic payments;
- (4) The identity of the creditor or creditors to whom the funds are to be paid, if the funds are to be paid directly to a creditor of the decedent or the decedent's estate; and
- (5) If the funds are to be paid other than to a creditor of the decedent or the decedent's estate, the affiant shall:
- (A) Identify the decedent's surviving spouse and heirs at law, and provide their residence addresses; and
- (B) Affirmatively state that:
- (i) There are no unpaid creditors of the decedent;
- (ii) There are no unpaid income, gift, estate, inheritance or other transfer taxes owed by the decedent or the estate of the decedent; and
- (iii) The funds distributed to the affiant will be distributed by the affiant as provided in any will or testamentary document or in appropriate shares to the decedent's heirs at law.
- (b) A bank may, in its discretion, require any persons seeking to collect monies from a deceased depositor's account or accounts, as provided in § 45-2-708, to deliver to the bank an affidavit, given under penalty of perjury in a form acceptable to the bank as provided in subsection (a).
- (c) A bank may require any person who obtains funds from a deposit account pursuant to § 45-2-708 or to negotiate checks pursuant to § 45-2-711 to provide an indemnity and guarantee to the bank in the amount of the funds obtained.
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