Title 45a, Title 45a: Probate Courts and Procedure

Sec. 45a-468a. Definitions. As used in sections 45a-468 to 45a-468m, inclusive, and section 45a-369, unless the context otherwise requires: (1) “Beneficiary form” means a registration of a security which indicates the present owner of the security and the intention of the owner r…

Sec. 45a-468b. Registration in beneficiary form: Sole or joint tenancy ownership. Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more individuals with right of survivorship, rather than as tenants in common…

Sec. 45a-468c. Registration in beneficiary form: Applicable law. A security may be registered in beneficiary form if the form is authorized by section 45a-468 to 45a-468m, inclusive, and section 45a-369 or a similar statutory provision of the state of organization of the issuer o…

Sec. 45a-468d. Designation of beneficiary. A security, whether evidenced by certificate or account, is registered in beneficiary form when 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…

Sec. 45a-468e. 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 …

Sec. 45a-468f. 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…

Sec. 45a-468g. 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…

Sec. 45a-468h. 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 …

Sec. 45a-468i. Nontestamentary transfer on death. (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 is not testamentary. (b) Sections 45a-468…

Sec. 45a-468j. 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 (1) for registrations in beneficiary form, and (2) for implementation…

Sec. 45a-468k. Taxable transfer. Whenever any security is registered in beneficiary form, the right of any beneficiary to the immediate ownership of any such security shall be a taxable transfer for the purposes of chapter 216. (P.A. 97-42, S. 11.)

Sec. 45a-468l. Liability of beneficiary. When any security registered in beneficiary form has been transferred to a beneficiary of a deceased owner, any such beneficiary shall be liable to the personal representative of the deceased owner for securities so registered or their pro…

Sec. 45a-468m. Applicability. Sections 45a-468 to 45a-468m, inclusive, and section 45a-369 apply to registrations of securities in beneficiary form made before or after October 1, 1997, by decedents dying on or after October 1, 1997. (P.A. 97-42, S. 15.)