California Probate Code

§ 5506

PROB § 5506 Effective Jan 1, 1999Div. 5 · Part 3

Statute text

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.

Legislative history

Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.