Designation of Tod; Registration Cancelled or Changed.

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  2. Code of Alabama
  3. Commercial Law and Consumer Protection.
  4. Securities.
  5. Uniform Transfer on Death Security Registration Act.
  6. Designation of Tod; Registration Cancelled or Changed.

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Section 8-6-145

Designation of TOD; registration cancelled or changed.

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 cancelled or changed at any time by the sole owner or all then surviving owners, without the consent of the beneficiary.

(Acts 1997, No. 97-703, p. 1451, §6.)


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