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.
815 ILCS 10/4
Origination of registration in beneficiary form
Known as the Uniform TOD Security Registration Act
The act spans §§ 815-10-0-01 to 815-10-9 (13 sections).
P.A. 88-577, eff. 1-1-95.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.