§ 91-21-11. Form of registration in beneficiary form
Registration in beneficiary form may be shown by the words “transfer on death” or the abbreviation “TOD,” or by the words “pay on death” or the abbreviation “POD,” after the name of the registered owner and before the name of a beneficiary.
§ 91-21-13. Effect of registration in beneficiary form
The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be cancelled or changed at any time by the sole owner or all the surviving owners without the consent of the beneficiary.
§ 91-21-15. Ownership on death of owner
On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form […]
§ 91-21-17. Protection of registering entity
A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by this chapter. By accepting a request for […]
§ 91-21-19. Nontestamentary transfer on death
A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this chapter and is not testamentary. This chapter does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws […]
§ 91-21-21. Terms, conditions, and forms for registration
A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests (a) for registrations in beneficiary form, and (b) for implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a change […]
§ 91-21-23. Rules of construction
This chapter shall be liberally construed and applied to promote its underlying purposes and policy and to make uniform the laws with respect to the subject of these sections among states enacting them. Unless displaced by the particular provisions of this chapter, the principles of law and equity supplement its provisions.
§ 91-21-25. Application of chapter
This chapter applies to registrations of securities in beneficiary form made before or after July 1, 1997, by decedents dying on or after July 1, 1997.
§ 91-21-1. Short title
This chapter shall be known and may be cited as the “Mississippi Uniform Transfer-on-Death Security Registration Act.”
§ 91-21-3. Definitions
In this chapter, unless the context otherwise requires: “Beneficiary form” means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner. “Devisee” means any person designated in a will […]