461.014. Transferring entity, obligation resulting from acceptance and registration. - Missouri Statutes

Transferring entity, obligation resulting from acceptance andregistration.

461.014. When a transferring entity accepts a beneficiary designationor beneficiary assignment, or registers property in beneficiary form, theacceptance or registration constitutes the agreement of the owner andtransferring entity that, unless the beneficiary designation is revoked orchanged prior to the owner's death, on proof of death of the owner andcompliance with the transferring entity's requirements for showing proof ofentitlement, the property will be transferred to and placed in the name andcontrol of the beneficiary in accordance with the beneficiary designationor transfer on death direction, the agreement of the parties and sections461.003 to 461.081.

(L. 1989 H.B. 145 § 21, A.L. 1995 S.B. 116)