(a) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this Act and is not testamentary. (b) This Act does not limit or expand the rights of creditors of security owners against beneficiaries and other transferees under other laws of this State.
815 ILCS 10/9
Nontestamentary transfer on death
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.