California Probate Code 5500 – (a) This part shall be known as and may be cited as the Uniform …
(a) This part shall be known as and may be cited as the Uniform TOD Security Registration Act.
(b) This part shall be liberally construed and applied to promote its underlying purposes and policy.
Terms Used In California Probate Code 5500
- Probate: Proving a will
- Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
- Security: includes any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, collateral trust certificate, transferable share, voting trust certificate or, in general, any interest or instrument commonly known as a security, or any certificate of interest or participation, any temporary or interim certificate, receipt, or certificate of deposit for, or any warrant or right to subscribe to or purchase, any of the foregoing. See California Probate Code 70
(c) The underlying purposes and policy of this act are to (1) encourage development of a title form for use by individuals that is effective, without probate and estate administration, for transferring property at death in accordance with directions of a deceased owner of a security as included in the title form in which the security is held and (2) protect issuers offering and implementing the new title form.
(d) Unless displaced by the particular provisions of this part, the principles of law and equity supplement its provisions.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)