Iowa Code 633D.7 – Effect of registration in beneficiary form
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Terms Used In Iowa Code 633D.7
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
633D.7 Effect of registration in beneficiary form.
The designation of a transfer on death or pay on death beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all surviving owners without the consent of the beneficiary.
97 Acts, ch 178, §23
CS97, §633.806
2005 Acts, ch 38, §53
CS2005, §633D.7
The designation of a transfer on death or pay on death beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all surviving owners without the consent of the beneficiary.
97 Acts, ch 178, §23
CS97, §633.806
2005 Acts, ch 38, §53
CS2005, §633D.7