Md. Code Ann., Est. & Trusts § 16-106
Effect of registration in beneficiary form
Effective Oct 1, 2019Added by Acts 1994, c. 644, § 1, eff. Oct. 1, 1994. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.State of Maryland
- (a) The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death.
- (b) 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.
Added by Acts 1994, c. 644, § 1, eff. Oct. 1, 1994. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.