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.
History: 1978 Comp., § 45-6-306, enacted by Laws 1992, ch. 66, § 42.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 6 - Nonprobate Transfers
Part 3 - TOD SECURITY REGISTRATION
Section 45-6-301 - Definitions.
Section 45-6-302 - Registration in beneficiary form; sole or joint tenancy ownership.
Section 45-6-303 - Registration in beneficiary form; applicable law.
Section 45-6-304 - Origination of registration in beneficiary form.
Section 45-6-305 - Form of registration in beneficiary form.
Section 45-6-306 - Effect of registration in beneficiary form.
Section 45-6-307 - Ownership of [on] death of owner.
Section 45-6-308 - Protection of registering entity.
Section 45-6-309 - Nontestamentary transfer on death.
Section 45-6-310 - Terms, conditions and forms for registration.