South Dakota Codified Laws 29A-6-309. 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 this part and is not testamentary.
(b) This part does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state.
Terms Used In South Dakota Codified Laws 29A-6-309
- 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.
Source: SL 1995, ch 168, § 6-309.