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.
Structure Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Article 6 - Uniform Transfer on Death Security Registration Act.
Section 8-6-140 - Definitions.
Section 8-6-141 - Registration - Beneficiary Form.
Section 8-6-142 - Registration - Authorization.
Section 8-6-143 - Registration - Designation of a Beneficiary.
Section 8-6-144 - Registration - Applicable Language.
Section 8-6-145 - Designation of Tod; Registration Cancelled or Changed.
Section 8-6-146 - Death of Owner.
Section 8-6-147 - Assent of Owner; Discharge From Claims.
Section 8-6-148 - Transfer on Death.
Section 8-6-149 - Terms and Conditions of Registration.