§36-11-2. Supplementary General Principles of Law and Equity
Principles of law and equity supplement this article unless displaced by a particular provision of it.
§36-11-3. Territorial Application
Real and personal property in this state may be acquired, held, encumbered and transferred by a nonprofit association, whether or not the nonprofit association or a member has any other relationship to this state.
§36-11-4. Real and Personal Property; Nonprofit Association as Legatee, Devisee or Beneficiary
(a) A nonprofit association in its name may acquire, hold, encumber or transfer an estate or interest in real or personal property. (b) A nonprofit association may be a legatee, devisee or beneficiary of a trust or contract.
§36-10-11. Short Title; Rules of Construction
(a) This article shall be known as and may be cited as the Uniform TOD Security Registration Act. (b) This article 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 article among states enacting it. (c) Unless displaced […]
§36-10-12. Application of Article
This article applies to registrations of securities in beneficiary form made before or after its initial enactment, by decedents dying on or after its initial enactment.
§36-11-1. Definitions
In this article: (1) "Member" means a person who, under the rules or practices of a nonprofit association, may participate in the selection of persons authorized to manage the affairs of the nonprofit association or in the development of policy of the nonprofit association.
§36-10-5. 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.
§36-10-6. 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 canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
§36-10-7. Ownership of 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 […]
§36-10-8. Protection of Registering Entity
(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 article. (b) By accepting a […]