The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then-surviving owners without the consent of the beneficiary.
KRS 292.6506
Effect of registration in beneficiary form
Known as the Securities Act
The act spans §§ 292.010 to 292.991 (93 sections).
Effective: August 1, 1998 History: Created 1998 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.