General Laws

[Text of section added by 2008, 521, Sec. 9 effective January 2, 2012. See 2008, 521, Sec. 44 as amended by 2010, 409, Sec. 23.]

Section 6-309. [Nontestamentary Transfer on Death.]

(a) 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.

(b) This part shall not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of the commonwealth.