(a) A security may be registered in beneficiary form if the form is authorized by this or a similar TOD statute of the state of (1) organization of the issuer or registering entity;
(2) the registering entity's principal office;
(3) the office of the registering entity's transfer agent or the registering entity's office making the registration; or
(4) the owner's address at the time of registration.
(b) A registration governed by the law of a jurisdiction in which this or similar TOD legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.