Arizona Laws 14-6302. Registration of securities; form
Current as of: 2023 | Check for updates
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Only a person whose registration of a security shows sole ownership by one person or multiple ownership by two or more persons with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship or as owners of community property held in survivorship form and not as tenants in common.
Terms Used In Arizona Laws 14-6302
- 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
- Beneficiary: means an individual for whom property has been transferred to, or held under a declaration of trust by, a custodial trustee for the individual's use and benefit under this chapter. See Arizona Laws 14-9101
- Community property: means that property of a husband and wife that is acquired during the marriage and that is community property as prescribed in section 25-211. See Arizona Laws 14-1201
- Person: means an individual or an organization. See Arizona Laws 14-1201
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Security: means any 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 Arizona Laws 14-6301
- Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.