Massachusetts General Laws ch. 190B sec. 6-304 – Origination of registration in beneficiary form
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Section 6–304. [Origination of Registration in Beneficiary Form.]
Terms Used In Massachusetts General Laws ch. 190B sec. 6-304
- 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
A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.