Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties and not as tenants in common. In the case of community property established while the owners were residents of a community property state, the security continues its character as community property in this State unless it is subsequently reregistered by its owners. (Added 1999, No. 23, § 1.)