1. (1) A transfer on death, resulting from a registration in beneficiary form, is effective by reason of the contract regarding the registration between the owner and the registering entity and this part and is not testamentary.
2. (2) This part does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state.

History: En. Sec. 111, Ch. 494, L. 1993.