CA SB 1288

in committee

Property: nonprobate transfer of ownership.

California · 2025-2026 Regular Session · upper

Description

Existing law, the Uniform TOD Security Registration Act, provides for the transfer of ownership or proceeds of a security, as defined, by a registering entity to the designated beneficiary or beneficiaries upon the death of the owner without probate or estate administration, as specified. This bill would require a registering entity that receives information establishing knowledge of the death of all owners of a security designated for nonprobate transfer held by that registering entity to initiate its beneficiary notification process, as specified. The bill would require the registering entity to make a reasonable and good-faith effort, as defined, to notify each named beneficiary. The bill would require a beneficiary who has provided all required documentation to the registered entity to receive their designated share within 60 days of completing the registering entity's process, as specified. This bill would specify the necessary information for a nonprofit corporation, charitable trust, or entity that is exempt from federal taxation to establish its legal identity for these purposes. The bill would prohibit a registering entity from requesting additional information, including, among other things, a social security number and driver's license number, from an individual employed by, or serving on the board of, those types of beneficiaries, except as specified. The bill would require a registering entity to permit those types of beneficiaries to demonstrate their entitlement to a security by providing specific documentation. This bill would provide that it does not apply when the death of all owners of a security occurred before January 1, 2027.

Introduced: 2026-02-20
Status date: —
Latest action: 2026-06-25 — Re-referred to Com. on APPR. pursuant to Assembly Rule 97.
Bill type: bill
Last updated: —

Subjects

Committees

Not provided by source.

Action timeline

2026-02-20
Introduced. To Com. on RLS. for assignment. To print.
introduction,referral-committee
2026-02-23
From printer. May be acted upon on or after March 23.
2026-02-23
Read first time.
reading-1
2026-03-04
Referred to Com. on JUD.
referral-committee
2026-03-18
Set for hearing April 7.
2026-03-26
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2026-04-02
April 7 set for first hearing canceled at the request of author.
2026-04-02
Set for hearing April 14.
2026-04-15
From committee: Do pass. (Ayes 11. Noes 0. Page 3869.) (April 14).
committee-passage,committee-passage-favorable
2026-04-16
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2026-05-18
Read third time. Passed. (Ayes 37. Noes 0. Page 4320.) Ordered to the Assembly.
passage,reading-1,reading-3
2026-05-19
In Assembly. Read first time. Held at Desk.
reading-1
2026-05-26
Referred to Com. on JUD.
referral-committee
2026-06-08
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2026-06-16
Coauthors revised.
2026-06-16
From committee: Do pass. (Ayes 11. Noes 1.) (June 16).
committee-passage,committee-passage-favorable
2026-06-17
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2026-06-25
Re-referred to Com. on APPR. pursuant to Assembly Rule 97.
referral-committee

Versions

02/20/26 - Introduced — 2026-02-20Compare
03/26/26 - Amended Senate — 2026-03-26Compare
06/08/26 - Amended Assembly — 2026-06-08Compare
SB1288Compare
(document, no version)Compare

Documents

Votes

Do pass
2026-04-14 · pass · 11-0
Member-level votes (13)
- Wahab: yes
- Umberg: yes
- Allen: yes
- Durazo: yes
- Caballero: yes
- Niello: yes
- McNerney: yes
- Reyes: yes
- Stern: yes
- Wiener: yes
- Weber Pierson: yes
- Ashby: other
- Valladares: other
3rd Reading
2026-05-18 · pass · 37-0
Member-level votes (40)
- Caballero: yes
- Alvarado-Gil: yes
- Grove: yes
- Ochoa Bogh: yes
- Hurtado: yes
- Laird: yes
- Cervantes: yes
- Ashby: yes
- Dahle: yes
- Durazo: yes
- Umberg: yes
- Wahab: yes
- Arreguín: yes
- Strickland: yes
- Menjivar: yes
- Weber Pierson: yes
- Cortese: yes
- Seyarto: yes
- Rubio: yes
- Valladares: yes
- Blakespear: yes
- Choi: yes
- McGuire: yes
- Becker: yes
- Smallwood-Cuevas: yes
- Stern: yes
- Limón: yes
- McNerney: yes
- Cabaldon: yes
- Wiener: yes
- Pérez: yes
- Reyes: yes
- Allen: yes
- Archuleta: yes
- Gonzalez: yes
- Grayson: yes
- Richardson: yes
- Jones: other
- Padilla: other
- Niello: other
Do pass.
2026-06-16 · pass · 11-1
Member-level votes (12)
- Zbur: yes
- Kalra: yes
- Dixon: yes
- Pacheco: yes
- Connolly: yes
- Harabedian: yes
- Bauer-Kahan: yes
- Stefani: yes
- Bryan: yes
- Papan: yes
- Sanchez: yes
- Macedo: no

Related bills

No related bills recorded for this bill.

Official source

http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202520260SB1288

Attribution

Data from openstates_bulk_csv, retrieved 2026-07-24T01:34:27.960412Z

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