14-6301. Definitions In this article, unless the context otherwise requires: 1. " Beneficiary form" means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security on the owner’s death. 2. " Register" means to issue […]
14-6302. Registration of securities; form Only a person whose registration of a security shows sole ownership by one person or multiple ownership by two or more persons with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint […]
14-6303. Registration in beneficiary form; applicable law A. A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity’s principal office, the office of its transfer agent or its office […]
14-6304. Origination of registration A security, whether evidenced by certificate or account, is registered in beneficiary form if the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
14-6305. Form of registration 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.
14-6306. Effect of registration A. The designation of a transfer on death beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. B. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without […]
14-6307. Ownership on death of owner A. 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 the death of all of the owners and compliance with any applicable requirements […]
14-6308. Registering entity; obligations; protection A. 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 […]
14-6310. Registrations; terms, conditions and forms A. A registering entity that offers to accept registrations in beneficiary form may establish the terms and conditions under which it will receive and implement these requests as well as requests for cancellation of previously registered transfer on death beneficiary designations and requests for reregistration to effect a change […]
14-6311. Application of article This article applies to registrations of securities in beneficiary form made before or after December 31, 1994, by decedents dying on or after December 31, 1994.
