§ 7-11.1-8 - Ownership on death of owner.
SECTION 7-11.1-8
§ 7-11.1-8 Ownership on death of owner.– On death of a sole owner or the last to die of all multiple owners, ownershipof securities registered in beneficiary form passes to the beneficiary orbeneficiaries who survive all owners. On proof of death of all owners andcompliance with any applicable requirements of the registering entity, asecurity registered in beneficiary form may be reregistered in the name of thebeneficiary or beneficiaries who survived the death of all owners. Untildivision of the security after the death of all owners, multiple beneficiariessurviving the death of all owners hold their interests as tenants in common. Ifno beneficiary survives the death of all owners, the security belongs to theestate of the deceased owner or the estate of the last to die of all multipleowners.