6401 - Definitions.

                                CHAPTER 64                 TRANSFER ON DEATH SECURITY REGISTRATION     Sec.     6401.  Definitions.     6402.  Registration in beneficiary form.     6403.  Law applicable to registration.     6404.  Origination of registration in beneficiary form.     6405.  Form of registration in beneficiary form.     6406.  Effect of registration in beneficiary form.     6407.  Ownership on death of owner.     6408.  Protection of registering entity.     6409.  Nontestamentary transfer on death.     6410.  Terms, conditions and forms for registration.     6411.  Transfers of securities and security accounts.     6412.  Construction of chapter.     6413.  Application of chapter.        Enactment.  Chapter 64 was added December 18, 1996, P.L.1118,     No.168, effective in 60 days.     § 6401.  Definitions.        The following words and phrases when used in this chapter     shall have the meanings given to them in this section unless the     context clearly indicates otherwise:        "Beneficiary form."  A registration of a security which     indicates the present owner of the security and the intention of     the owner regarding the person who will become the owner of the     security upon the death of the owner.        "Financial institution."  Any regulated financial institution     insured by the Federal Deposit Insurance Corporation or its     successor or an affiliate of the financial institution.        "Heirs."  Those persons, including the surviving spouse, who     are entitled under the statutes of intestate succession to the     property of a decedent.        "Person."  An individual, a corporation, an organization or     other legal entity.        "Personal representative."  The term includes an executor,     administrator, successor personal representative, special     administrator and persons who perform substantially the same     function under the law governing their status.        "Property."  The term includes both real and personal     property or any interest therein and anything that may be the     subject of ownership.        "Register."  To issue a certificate showing the ownership of     a certificated security or, in the case of an uncertificated     security, to initiate or transfer an account showing ownership     of securities.        "Registering entity."  A person who originates or transfers a     security title by registration. The term includes a broker     maintaining security accounts for customers and a transfer agent     or other person acting for or as an issuer of securities.        "Security."  A share, participation or other interest in     property, in a business or in an obligation of an enterprise or     other issuer. The term also includes a certificated security, an     uncertificated security and a security account.        "Security account."            (1)  A reinvestment account associated with a security, a        securities account with a financial institution or a        securities dealer or broker and any cash balance in a        brokerage account with a financial institution or a        securities dealer or broker or cash, interest, earnings or        dividends earned or declared on a security in an account, a        reinvestment account or a brokerage account, whether or not        credited to the account before the owner's death.            (2)  A cash balance or other property held for or due to        the owner of a security as a replacement for or product of an        account security, whether or not credited to the account        before the owner's death.        "State."  Any state of the United States, the District of     Columbia, the Commonwealth of Puerto Rico and any territory or     possession subject to the legislative authority of the United     States.