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House
File
940
-
Reprinted
HOUSE
FILE
940
BY
COMMITTEE
ON
JUDICIARY
(SUCCESSOR
TO
HF
713)
(As
Amended
and
Passed
by
the
House
March
26,
2025
)
A
BILL
FOR
An
Act
relating
to
civil
law,
including
providing
notice
to
1
named
beneficiaries
in
probate
law,
a
process
for
named
2
beneficiaries
to
obtain
ownership
of
property
held
by
others
3
in
probate
law,
and
authorizing
spouses
to
amend
premarital
4
agreements,
and
including
applicability
provisions.
5
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
6
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940
(2)
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940
DIVISION
I
1
PROBATE
LAW
——
NAMED
BENEFICIARIES
2
Section
1.
Section
633.358,
Code
2025,
is
amended
by
adding
3
the
following
new
subsection:
4
NEW
SUBSECTION
.
1A.
If
the
holder
of
property
that
has
a
5
beneficiary
designation
has
been
notified
of
the
death
of
the
6
owner
of
the
property,
the
holder
of
property
shall
within
ten
7
business
days
provide
notice
to
each
charitable
organization
8
listed
under
the
beneficiary
designation
that
the
charitable
9
organization
may
have
a
right
to
the
property
and
provide
the
10
charitable
organization
with
the
contact
information
of
the
11
holder
of
the
property.
12
Sec.
2.
NEW
SECTION
.
633.359
Beneficiary
notice
——
13
affidavits
——
third-party
protection.
14
1.
For
purposes
of
this
section,
“beneficiary
designation”
15
means
the
same
as
defined
in
section
633.358,
subsection
1.
16
2.
If
the
holder
of
property
that
has
a
beneficiary
17
designation
has
been
notified
of
the
death
of
the
owner
of
the
18
property,
the
holder
of
property
shall
within
ten
business
days
19
provide
notice
to
each
person
listed
under
the
beneficiary
20
designation
that
the
person
may
have
a
right
to
the
property
21
and
provide
the
person
with
the
contact
information
of
the
22
holder
of
the
property.
23
3.
A
person
listed
under
the
beneficiary
designation
may
24
present
an
affidavit
to
the
holder
of
the
property
or
to
any
25
person
with
information
about
the
property
for
the
purpose
of
26
obtaining
the
property
or
information
regarding
the
property.
27
The
affidavit
must
state
all
of
the
following:
28
a.
The
decedent’s
name
and
last
known
address.
29
b.
A
general
description
of
the
property
to
the
extent
30
known.
31
c.
The
person
listed
under
the
beneficiary
designation’s
32
name,
address,
and
primary
contact
information.
33
d.
A
request
that
the
property
be
paid
or
transferred
to
34
the
person
listed
under
the
beneficiary
designation
or
that
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information
about
the
property
be
given
to
the
person
listed
1
under
the
beneficiary
designation.
2
e.
No
one
other
than
the
person
listed
under
the
beneficiary
3
designation
has
a
right
to
the
interest
in
the
property
listed
4
in
the
affidavit.
5
f.
The
affidavit
has
been
signed
by
the
person
listed
under
6
the
beneficiary
designation
under
penalty
of
perjury
before
a
7
notary
public
as
provided
in
chapter
9B.
8
g.
The
information
in
the
affidavit
is
true
and
correct.
9
4.
The
holder
of
the
property
shall
not
request
any
10
additional
personal
information
from
the
person
listed
under
11
the
beneficiary
designation,
including
but
not
limited
to
any
12
of
the
following:
13
a.
Social
security
number
or
driver’s
license
number.
14
b.
Contact
information.
15
c.
Personal
financial
information.
16
5.
If
the
requirements
of
this
section
are
satisfied,
all
17
of
the
following
apply:
18
a.
The
decedent’s
property
shall
be
paid,
delivered,
or
19
transferred
to
or
for
the
benefit
of
the
person
listed
under
20
the
beneficiary
designation
if
the
affidavit
has
requested
the
21
transfer
of
ownership
of
the
property
to
the
person.
22
b.
A
transfer
agent
of
a
security
described
in
the
23
affidavit
shall
change
registered
ownership
on
the
books
of
24
the
corporation
from
the
decedent
to
or
for
the
benefit
of
25
the
person
listed
under
the
beneficiary
designation
if
the
26
affidavit
has
requested
the
transfer
of
ownership
of
the
27
property
to
the
person.
28
c.
The
information
requested
in
the
affidavit
shall
be
29
delivered
to
the
person.
30
6.
The
holder
of
the
property
and
any
person
who
in
good
31
faith
delivers
the
property
or
information
requested
in
32
reliance
on
information
a
person
listed
under
the
beneficiary
33
designation
provides
under
this
section,
who
has
no
knowledge
34
that
representations
contained
in
the
affidavit
are
incorrect,
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shall
not
be
liable
to
any
person
for
so
acting
and
may
assume
1
without
inquiry
the
existence
of
the
facts
contained
in
the
2
affidavit.
The
time
to
verify
a
person
listed
under
the
3
beneficiary
designation
authority
shall
not
exceed
thirty
days
4
from
the
date
of
delivery
of
the
affidavit.
Any
right
or
5
title
acquired
from
the
person
listed
under
the
beneficiary
6
designation
in
consideration
of
the
provision
of
property
or
7
information
under
this
section
is
not
invalid
in
consequence
8
of
misapplication
by
the
person
listed
under
the
beneficiary
9
designation.
A
transaction
and
a
lien
created
by
a
transaction
10
entered
into
by
the
person
listed
under
the
beneficiary
11
designation
and
anyone
acting
in
reliance
on
the
affidavit
12
under
this
section
is
enforceable
against
the
property
the
13
person
has
requested.
14
7.
If
the
holder
of
the
property
refuses
to
provide
15
the
requested
property
or
information
within
thirty
days
16
after
receiving
the
affidavit,
the
person
listed
under
the
17
beneficiary
designation
may
bring
an
action
against
the
18
holder
of
the
property
to
recover
the
property
or
receive
the
19
information
or
to
compel
the
delivery
of
the
property.
An
20
action
brought
under
this
section
must
be
brought
within
one
21
year
after
the
date
of
the
act
or
failure
to
act.
If
the
court
22
finds
that
the
holder
of
the
property
acted
unreasonably
in
23
failing
to
deliver
the
property
or
information
as
requested
in
24
the
affidavit,
the
court
may
award
to
the
person
listed
under
25
the
beneficiary
designation
any
or
all
of
the
following:
26
a.
Damages
sustained
by
the
person.
27
b.
Costs
of
the
action.
28
c.
A
penalty
in
an
amount
determined
by
the
court
between
29
five
hundred
dollars
and
ten
thousand
dollars.
30
d.
Reasonable
attorney
fees
based
on
the
value
of
the
time
31
reasonably
expended
by
the
attorney
and
not
by
the
amount
of
32
the
recovery
on
behalf
of
the
person.
33
DIVISION
II
34
PREMARITAL
AGREEMENTS
——
AMENDMENTS
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Sec.
3.
Section
596.5,
subsection
1,
Code
2025,
is
amended
1
by
adding
the
following
new
paragraph:
2
NEW
PARAGRAPH
.
0g.
Any
limitations
on
the
ability
of
the
3
parties
to
amend
the
agreement
whether
prior
to
after
the
4
solemnization
of
the
marriage
except
that
any
amendment
must
be
5
in
writing
and
signed
by
both
parties.
6
Sec.
4.
NEW
SECTION
.
596.6A
Amendment.
7
Notwithstanding
section
597.2,
a
premarital
agreement
may
8
be
amended
after
marriage
only
by
a
written
agreement
signed
9
by
both
spouses
which
satisfies
any
additional
criteria
10
or
limitations
of
an
amendment
set
forth
in
the
premarital
11
agreement.
12
Sec.
5.
Section
596.7,
unnumbered
paragraph
1,
Code
2025,
13
is
amended
to
read
as
follows:
14
After
marriage,
a
premarital
agreement
or
amendment
may
be
15
revoked
only
as
follows:
16
Sec.
6.
Section
596.7,
subsection
2,
unnumbered
paragraph
17
1,
Code
2025,
is
amended
to
read
as
follows:
18
To
revoke
a
premarital
agreement
or
amendment
without
the
19
consent
of
the
other
spouse,
the
person
seeking
revocation
must
20
prove
one
or
more
of
the
following:
21
Sec.
7.
Section
596.8,
Code
2025,
is
amended
to
read
as
22
follows:
23
596.8
Enforcement.
24
1.
A
premarital
agreement
or
amendment
is
not
enforceable
25
if
the
person
against
whom
enforcement
is
sought
proves
any
of
26
the
following:
27
a.
The
person
did
not
execute
the
agreement
or
amendment
28
voluntarily.
29
b.
The
agreement
or
amendment
was
unconscionable
when
it
30
was
executed.
31
c.
Before
the
execution
of
the
agreement
or
amendment
the
32
person
was
not
provided
a
fair
and
reasonable
disclosure
of
33
the
property
or
financial
obligations
of
the
other
spouse;
and
34
the
person
did
not
have,
or
reasonably
could
not
have
had,
an
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adequate
knowledge
of
the
property
or
financial
obligations
of
1
the
other
spouse.
2
2.
If
a
provision
of
the
agreement
or
amendment
or
the
3
application
of
the
provision
to
a
party
is
found
by
the
court
4
to
be
unenforceable,
the
provision
shall
be
severed
from
the
5
remainder
of
the
agreement
and
shall
not
affect
the
provisions,
6
or
application,
of
the
agreement
which
can
be
given
effect
7
without
the
unenforceable
provision.
8
Sec.
8.
Section
596.9,
Code
2025,
is
amended
to
read
as
9
follows:
10
596.9
Unconscionability.
11
In
any
action
under
this
chapter
to
revoke
or
enforce
12
a
premarital
agreement
or
amendment,
the
issue
of
13
unconscionability
of
a
premarital
agreement
or
amendment
shall
14
be
decided
by
the
court
as
a
matter
of
law.
15
Sec.
9.
APPLICABILITY.
This
division
of
this
Act
applies
16
to
proceedings
concerning
premarital
agreement
amendments
17
commenced
on
or
after
July
1,
2025.
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