PART 3. UNIFORM TOD SECURITY REGISTRATION ACT [5500. - 5512.]
Part 3 added by Stats. 1998, Ch. 242, Sec. 2.
§§ 5500–5512 · 13 sections
- § 5500 (a) This part shall be known as and may be cited as the Uniform TOD Security Registration Act. (b) This part shall be liberally construed and applied to…
- § 5501 For purposes of this part: (a) “Beneficiary form” means a registration of a security that indicates the present owner of the security and the intention of the…
- § 5502 Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more individuals with right of…
- § 5503 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…
- § 5504 A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to…
- § 5505 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…
- § 5506 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…
- § 5507 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…
- § 5508 (a) A registering entity is not required to offer or to accept requests for security registration in beneficiary form. If a registration in beneficiary form is…
- § 5509 (a) Any transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner…
- § 5510 (a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for…
- § 5511 Nothing in this part alters the community character of community property or community rights in community property. This part is subject to Chapter 2…
- § 5512 This part applies to registrations of securities in beneficiary form made before, on, or after January 1, 1999, by decedents dying on or after January 1, 1999.