(a) The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death.
(b) 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.
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