(1) If a motor vehicle that is the subject of a beneficiary designation is owned by joint owners with right of survivorship, the beneficiary designation must be made by all of the joint owners.
(2) A beneficiary designation made by joint owners with right of survivorship:(a) May be revoked or changed as provided by Section 63-21-261, only if it is revoked or changed by all of the joint owners; and(b) May be revoked or changed by the last surviving joint owner as provided by Section 63-21-261.
(a) May be revoked or changed as provided by Section 63-21-261, only if it is revoked or changed by all of the joint owners; and
(b) May be revoked or changed by the last surviving joint owner as provided by Section 63-21-261.