(a) 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.
(b) A registration in beneficiary form can be revoked or amended by an
express direction in the owner's will which specifically refers to such
registration.
Structure New York Laws
EPT - Estates, Powers and Trusts
Article 13 - Other Provisions Affecting Estates
Part 4 - Transfer-on-Death Security Registration
13-4.2 - Registration in Beneficiary Form; Sole or Joint Tenancy Ownership
13-4.4 - Origination of Registration in Beneficiary Form
13-4.5 - Form of Registration in Beneficiary Form
13-4.6 - Effect of Registration in Beneficiary Form
13-4.7 - Ownership on Death of Owner
13-4.8 - Protection of Registering Entity
13-4.9 - Nontestamentary Transfer on Death
13-4.10 - Terms, Conditions, and Forms