15 Guam Code Ann. § 860
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In 15 Guam Code Ann. § 860
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
(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 Chapter, and is not testamentary.
(b) This Chapter does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of Guam.