Alabama Code (Last Updated: November 28, 2014) |
Title8 COMMERCIAL LAW AND CONSUMER PROTECTION. |
Chapter6. SECURITIES. |
Article6. Uniform Transfer On Death Security Registration Act. |
§8-6-145. Designation of TOD; registration cancelled or changed.
Latest version.
-
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.