Section 16-105 – Registration in Beneficiary Form — 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.
Section 16-106 – Registration in Beneficiary Form — Effect
(a) The designation of a TOD 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 the consent of the beneficiary.
Section 16-107 – 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. (b) On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form […]
Section 16-108 – Protection of Registering Entity
(a) (1) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. (2) 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 title. (b) By accepting a request for […]
Section 15-612 – Disclosure of Catalogue of Electronic Communication and Assets of User — to Trustee Not Original User; Requirements
Unless otherwise ordered by a court, directed by a user, or provided in a trust, a custodian shall disclose to a trustee that is not an original user of an account a catalogue of electronic communications sent or received by an original or successor user or stored, carried, or maintained by the custodian in an […]
Section 16-109 – Nontestamentary Transfer-on-Death; Rights of Creditors
(a) 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 title and is not testamentary. (b) This title does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this […]
Section 15-613 – Disclosures to Guardians of Protected Persons
(a) After an opportunity for hearing under Title 13, Subtitle 2 or Title 13, Subtitle 7 of this article, a court may grant a guardian access to the digital assets of the protected person for whom the guardian has been appointed. (b) Unless otherwise ordered by a court or directed by a user, a custodian shall disclose […]
Section 16-110 – Terms, Conditions, and Forms for Registration
(a) (1) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for: (i) Registrations in beneficiary form; and (ii) Implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a change of beneficiary. (2) The […]
Section 15-614 – Rights and Duties of Fiduciaries
(a) The legal duties imposed on a fiduciary charged with managing tangible property apply to the management of digital assets, including: (1) The duty of care; (2) The duty of loyalty; and (3) The duty of confidentiality. (b) A fiduciary’s or designated recipient’s authority with respect to a digital asset of a user: (1) Except as otherwise provided in § 15–603 […]
Section 16-111 – Short Title; Rules of Construction
(a) This title may be cited as the Maryland Uniform TOD Security Registration Act. (b) This title 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 this title among states enacting it. (c) Unless displaced by the particular provisions of this title, […]