633D.10 Protection of registering entity.
1. A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections provided to the registering entity by this chapter.
2. By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration in beneficiary form shall be implemented on the death of the deceased owners as provided in this chapter.
3. a. A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if the registering entity registers a transfer of the security in accordance with section 633D.9 and does so in good faith reliance on all of the following:
(1) The registration.
(2) The provisions of this chapter.
(3) Information provided by affidavit of the personal representative of the deceased owner, the surviving beneficiary, or the surviving beneficiary’s representative, or other information available to the registering entity.
b. The protections of this chapter do not extend to a reregistration or payment made after a registering entity has received written notice from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form. No other notice or other information available to the registering entity affects its right to protection under this chapter.
4. The protection provided by this chapter to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the transferred security, its value, or its proceeds.
97 Acts, ch 178, §26
CS97, §633.809
2005 Acts, ch 38, §52, 53, 55
CS2005, §633D.10
2013 Acts, ch 30, §261
Structure Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 633D - TRANSFER ON DEATH SECURITY REGISTRATION
Section 633D.1 - Short title — rules of construction.
Section 633D.3 - Registration in beneficiary form — sole or joint tenancy ownership.
Section 633D.4 - Registration in beneficiary form — applicable law.
Section 633D.5 - Origination of registration in beneficiary form.
Section 633D.6 - Form of registration in beneficiary form.
Section 633D.7 - Effect of registration in beneficiary form.
Section 633D.8 - Claims against a beneficiary of a transfer on death security registration.
Section 633D.9 - Death of the owner.
Section 633D.10 - Protection of registering entity.
Section 633D.11 - Nontestamentary transfer on death.
Section 633D.12 - Terms, conditions, and forms for registration.