14-6307

14-6307. Ownership on death of owner

A. On death of a sole owner or the last to die of all multiple owners, ownership of
securities registered in beneficiary form passes to the beneficiary or beneficiaries who
survive all owners. On proof of the death of all of the owners and compliance with any
applicable requirements of the registering entity, a security registered in beneficiary
form may be reregistered in the name of the beneficiary or beneficiaries who survived the
death of all owners.

B. Until division of the security after the death of all owners, multiple
beneficiaries surviving the death of all owners hold their interests as tenants in
common.

C. If no beneficiary survives the death of all owners, the security belongs to the
estate of the deceased sole owner or the estate of the last to die of all multiple
owners.