§ 16-107. Ownership of securities upon death of owner
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2019
Effective: October 1, 2019
MD Code, Estates and Trusts, § 16-107
§ 16-107. Ownership of securities upon death of owner
(a) On death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners.
(b) On proof of death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survived the death of all owners.
(c) Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common.
Credits
Added by Acts 1994, c. 644, § 1, eff. Oct. 1, 1994. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.
MD Code, Estates and Trusts, § 16-107, MD EST & TRST § 16-107
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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