Definitions

As used in this article, the term: (1) ‘‘Beneficiary form’’ means a registration of a security which indicates the present owner of the security and the intention of the 519 53-5-61 WILLS, TRUSTS, AND ESTATES 53-5-62 owner regarding the person who will become the owner of the security upon the death of the owner. (2) ‘‘Register,’’ including its derivatives, means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities. (3) ‘‘Registering entity’’ means a person who originates or transfers a security title by registration and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities. (4) ‘‘Security’’ means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer and includes a certificated security, an uncertificated security, and a security account. (5) ‘‘Security account’’ means: (A) A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner’s death; or (B) A cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner’s death. History. — Code 1981, § 53-5-61, enacted by Ga. L. 1999, p. 805, § 1. 53-5-62. Ownership of a security.