§ 2-16-109 — Protection of registering entity

Wyoming § 2-16-109

• Jurisdiction: Wyoming
• Title 02: Wills, Decedents' Estates and Probate Code
• Ch. 16: UNIFORM TOD SECURITY REGISTRATION

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(a) A registering entity is not required to offer or to
accept a request for security registration in beneficiary form.
If a registration in beneficiary form is offered by a
registering entity, the owner requesting registration in
beneficiary form assents to the protections given to the
registering entity by this act.
(b) By accepting a request for registration of a security
in beneficiary form, the registering entity agrees that the
registration will be implemented on death of the deceased owner
as provided in this act.
(c) A registering entity is discharged from all claims to
a security by the estate, creditors, heirs or devisees of a
deceased owner if it registers a transfer of the security in
accordance with W.S. 2-16-108 and does so in good faith reliance
(1) on the registration, (2) on this act, and (3) on information
provided to it by affidavit of the personal representative of
the deceased owner, or by the surviving beneficiary or by the
surviving beneficiary's representatives, or other information
available to the registering entity. The protections of this
act do not extend to a reregistration or payment made after a
registering entity has received written notice from any claimant
to any interest in the security objecting to implementation of a
registration in beneficiary form. No other notice or other
information available to the registering entity affects its
right to protection under this act.
(d) The protection provided by this act to the registering
entity of a security does not affect the rights of beneficiaries
in disputes between themselves and other claimants to ownership
of the security transferred or its value or proceeds.