South Dakota Codified Laws 29A-6-306. Effect of registration in beneficiary form
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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 canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
Terms Used In South Dakota Codified Laws 29A-6-306
- 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
Source: SL 1995, ch 168, § 6-306.