§ 30.1-31-27 — (6-307) Ownership on death of owner

On death of a sole owner or the last to die of all multiple owners, ownership of securities
registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners.
On proof of death of all owners and compliance with any applicable requirements of the
registering entity, a security registered in beneficiary form may be reregistered in the name of
the beneficiary or beneficiaries who survived the death of all owners. Until division of the
security after the death of all owners, multiple beneficiaries surviving the death of all owners
hold their interests as tenants in common. If no beneficiary survives the death of all owners, the
security belongs to the estate of the deceased sole owner or the estate of the last to die of all
multiple owners.