Registration in beneficiary form; sole or joint tenancy ownership
Sec. 7. (a) Only individuals whose registration of a security
shows:
(1) sole ownership by one (1) individual; or
(2) multiple ownership by two (2) or more individuals with
right of survivorship, rather than as tenants in common;
may obtain registration in beneficiary form.
(b) Multiple owners of a security registered in beneficiary form
hold as:
(1) joint tenants with right of survivorship; or
(2) tenants by the entireties;
and not as tenants in common.
As added by P.L.2-2002, SEC.2.
Last modified: May 24, 2006