§ 7-11.1-10 - Nontestamentary transfer on death. - Rhode Island Statutes

SECTION 7-11.1-10

   § 7-11.1-10  Nontestamentary transfer ondeath. – (a) A transfer on death resulting from a registration in beneficiary formpursuant to this chapter is effective by reason of the contract regarding theregistration between the owner and the registering entity, is not testamentary,and any security being transferred by it is not considered an asset of thedecedent's estate subject to probate.

   (b) This chapter does not limit the rights of creditors ofsecurity owners against beneficiaries and other transferees under other laws ofthe state.