18-A §6-312. Cancellation of beneficiary registration by will - Maine Statutes

Title 18-A: PROBATE CODE

Article 6: NONPROBATE TRANSFERS

Part 3: UNIFORM TRANSFER ON DEATH SECURITY REGISTRATION ACT HEADING: PL 1997, C. 627, §1 (NEW)

§6-312. Cancellation of beneficiary registration by will

Registrations in beneficiary form may be canceled by inclusion in the will of the sole owner or the last to die of multiple owners of a general reference that all such beneficiary forms be canceled or by specific reference to one or more securities or security accounts, but the terms of the revocation are not binding on a registering entity unless the registering entity has received written notice from any claimant to an interest in any security objecting to implementation of a registration in beneficiary form prior to the registering entity reregistering the security. If a beneficiary registration is canceled, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners. [1997, c. 627, §1 (NEW).]

SECTION HISTORY

1997, c. 627, §1 (NEW).