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 canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
(Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087.)
Uniform Law: This section is based upon § 306 of the Uniform Nonprobate Transfers on Death Act (1991 Act).
Structure District of Columbia Code
Title 19 - Descent, Distribution, and Trusts. [Enacted title]
Chapter 6 - Nonprobate Transfers on Death; Uniform Law
Subchapter III - Uniform TOD Security Registration
§ 19–603.02. Registration in beneficiary form; sole or joint tenancy ownership
§ 19–603.03. Registration in beneficiary form; applicable law
§ 19–603.04. Origination of registration in beneficiary form
§ 19–603.05. Form of registration in beneficiary form
§ 19–603.06. Effect of registration in beneficiary form
§ 19–603.07. Ownership on death of owner
§ 19–603.08. Protection of registering entity
§ 19–603.09. Nontestamentary transfer on death