(a) Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form.
(b) Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common.
Structure Maryland Statutes
Title 16 - Maryland Uniform Transfer-on-Death (Tod) Security Registration Act
Section 16-102 - Registration in Beneficiary Form -- Sole or Joint Tenancy Ownership
Section 16-103 - Registration in Beneficiary Form -- Applicable Law
Section 16-104 - Registration in Beneficiary Form -- Origination
Section 16-105 - Registration in Beneficiary Form -- Form
Section 16-106 - Registration in Beneficiary Form -- Effect
Section 16-107 - Ownership on Death of Owner
Section 16-108 - Protection of Registering Entity
Section 16-109 - Nontestamentary Transfer-on-Death; Rights of Creditors
Section 16-110 - Terms, Conditions, and Forms for Registration