Connecticut General Statutes 45a-468c – Registration in beneficiary form: Applicable law
A security may be registered in beneficiary form if the form is authorized by § 45a-468 to 45a-468m, inclusive, and § 45a-369 or a similar statutory provision of the state of organization of the issuer or registering entity, the location of the registering entity’s principal office, the office of its transfer agent or its office making the registration, or by sections 45a-468 to 45a-468m, inclusive, and § 45a-369 or a similar statutory provision of the state listed as the owner’s address at the time of registration. A registration governed by the law of a jurisdiction in which a similar statutory provision to sections 45a-468 to 45a-468m, inclusive, and § 45a-369 is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.
Terms Used In Connecticut General Statutes 45a-468c
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.