§ 7-11.1-10. Nontestamentary transfer on death.
(a) A transfer on death resulting from a registration in beneficiary form pursuant to this chapter is effective by reason of the contract regarding the registration between the owner and the registering entity, is not testamentary, and any security being transferred by it is not considered an asset of the decedent’s estate subject to probate.
(b) This chapter does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of the state.
History of Section.P.L. 1998, ch. 260, § 1.
Structure Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-11.1 - The Uniform Transfer on Death Security Registration Act
Section 7-11.1-1. - Short title — Rules of construction.
Section 7-11.1-2. - Definitions.
Section 7-11.1-3. - Registration in beneficiary form — Sole or joint tenancy ownership.
Section 7-11.1-4. - Registration in beneficiary form — Applicable law.
Section 7-11.1-5. - Origination of registration in beneficiary form.
Section 7-11.1-6. - Form of registration in beneficiary form.
Section 7-11.1-7. - Effect of registration in beneficiary form.
Section 7-11.1-8. - Ownership on death of owner.
Section 7-11.1-9. - Protection of registering entity.
Section 7-11.1-10. - Nontestamentary transfer on death.
Section 7-11.1-11. - Terms — Conditions — Forms for registration.