Uniform TOD Security Registration Act

The act governs how securities and securities accounts may be registered in a transfer-on-death, or beneficiary, form, allowing an owner — whether a sole owner or joint tenants — to name one or more beneficiaries who take ownership automatically when the owner dies. It sets out who may originate such a registration, the form the registration must take, the terms and conditions a registering entity may impose, and how a beneficiary designation may be changed or cancelled during the owner's lifetime. It also treats the resulting transfer as nontestamentary, so it operates outside the will and probate process, and it shields the registering entity from liability for carrying out a registration and transfer in accordance with the act.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.