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 cancelled or changed at any time by the sole owner or all then surviving owners, without the consent of the beneficiary.
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.