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.
R.I. Gen. Laws § 7-11.1-7
Effect of registration in beneficiary form
Known as the Uniform TOD Security Registration Act
The act spans §§ 7–7 (12 sections).
P.L. 1998, ch. 260, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.