A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
Ala. Code § 8-6-143
Registration - Designation of a Beneficiary.
Known as the Uniform TOD Security Registration Act
The act spans §§ 8–8 (12 sections).
(Acts 1997, No. 97-703, p. 1451, §4.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.