Statutes > Alabama Statutes > Title 8 — COMMERCIAL LAW AND CONSUMER PROTECTION. > Chapter 6 — SECURITIES. > Section 8-6-145 Designation of TOD; registration cancelled or changed.

Section 8-6-145 Designation of TOD; registration cancelled or changed.

Section 8-6-145

Designation of TOD; registration cancelled or changed.

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.

(Acts 1997, No. 97-703, p. 1451, §6.)