461.021. Beneficiary designation under written instrument or law, effect.
Beneficiary designation under written instrument or law, effect.
461.021. A beneficiary designation, under a written instrument orlaw, that authorizes a transfer of property pursuant to a writtendesignation of beneficiary, transfers the right to receive the property tothe designated beneficiary who survives, effective on death of the owner,if the beneficiary designation is executed and delivered in proper form tothe transferring entity prior to the death of the owner.
(L. 1989 H.B. 145 § 23, A.L. 1995 S.B. 116)