(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 subchapter and is not testamentary.
(b) This subchapter does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of the District.
CREDIT(S)
(Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For D.C. Law 13-292, see notes following § 19-601.01.
Uniform Law
This section is based upon § 309 of the Uniform Nonprobate Transfers on Death Act (1991 Act). See 8B Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.