Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by 2 or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form, and not as tenants in common.

History

Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087

Editor's Notes

Uniform Law: This section is based upon § 302 of the Uniform Nonprobate Transfers on Death Act (1991 Act).