Virginia Code 64.2-614: Origination of registration in beneficiary form.
Current as of: 2024 | Check for updates
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A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
Terms Used In Virginia Code 64.2-614
- 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
- Includes: means includes, but not limited to. See Virginia Code 1-218
- Security: means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, and a security account. See Virginia Code 64.2-612