Title XV, JUDICIAL BRANCH AND JUDICIAL PROCEDURES (Ch. 595 - 686D)

As used in this chapter , 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 regarding the person who will become the owner of the security upon the death…

Only an individual whose registration of a security shows sole ownership by one individual or multiple ownership by two or more individuals with a right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security r…

1. A security may be registered in beneficiary form if the form is authorized by this chapter or a similar statute of the state of any of the following: a. The state of organization of the issuer or registering entity. b. The state of location of the registering entity’s principa…

A security, whether evidenced by a 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. 97 Acts, ch 178, §21 CS97, §633.804 200…

Registration in beneficiary form may be shown by any of the following, appearing after the name of the registered owner and before the name of a beneficiary: 1. The words “transfer on death” or the abbreviation “TOD”. 2. The words “pay on death” or the abbreviation “POD”. 97 Acts…

The designation of a transfer on death or pay on death 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 surviving …

1. If other assets of the estate of a deceased owner are insufficient to pay debts, taxes, and expenses of administration, including statutory allowances to the surviving spouse and children, a transfer at death of a security registered in beneficiary form is not effective agains…

On the death of a sole owner or on the death of the sole surviving owner of multiple owners, the 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 appli…