North Dakota Code 30.1-31-29 – (6-309) Nontestamentary transfer on death
Current as of: 2023 | Check for updates
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1. 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 sections 30.1-31-21 through 30.1-31-30 and is not testamentary.
Terms Used In North Dakota Code 30.1-31-29
- 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.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
2. Sections 30.1-31-21 through 30.1-31-30 do not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state.