Connecticut General Statutes 45a-468i – Nontestamentary transfer on death
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(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 is not testamentary.
Terms Used In Connecticut General Statutes 45a-468i
- 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.
(b) Sections 45a-468 to 45a-468m, inclusive, and § 45a-369 do not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state.