06. Effect of registration in beneficiary form. 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 canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary. (Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087.) Editor's Notes Uniform Law: This section is based upon § 306 of the Uniform Nonprobate Transfers on Death Act (1991 Act).
District of Columbia Legal Code