New Jersey Statutes 3B:30-7. No effect on ownership, cancellation, change permitted
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Terms Used In New Jersey Statutes 3B:30-7
- 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
7. The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be cancelled or changed at any time by the sole owner or all then surviving owners, without the consent of the beneficiary.
L.1995,c.130,s.7.