WILLIAM DONALD SCHAEFER, Governor                            Ch. 644

(ii) Then, transfer any balance] AND TRANSFERRED to the
Transportation Trust Fund.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1995.

Approved May 26, 1994.

CHAPTER 644
(House Bill 1189)

AN ACT concerning

Securities Law - Maryland Uniform Transfer-on-Death Security Registration Act

FOR the purpose of allowing the owner of securities to register the title to those
securities in transfer-on-death (TOD) form; limiting the use of this registration
form to certain ownership interests; providing for the application of similar laws
from other states; providing for the format of TOD registration; providing for the
effect of TOD registration during the lifetime of the owner and the effect upon the
death of the owner; providing certain rules of construction; defining certain terms;
. and generally relating to registration of securities in transfer-on-death form.

BY adding to

Article - Estates and Trusts

Section 16-101 through 16-112 to be under the new title "Title 16. Maryland
Uniform Transfer-on-Death (TOD) Security Registration Act"

Annotated Code of Maryland

(1991 Replacement Volume and 1993 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Estates and Trusts

TITLE 16. UNIFORM TRANSFER-ON-DEATH (TOD) SECURITY REGISTRATION ACT
16-101. DEFINITIONS.

(A)     IN THIS TITLE THE FOLLOWING TERMS HAVE THE MEANINGS INDICATED
UNLESS THE CONTEXT OTHERWISE REQUIRES.

(B)      "BENEFICIARY FORM" MEANS A REGISTRATION OF A SECURITY WHICH
INDICATES THE PRESENT OWNER OF THE SECURITY AND THE INTENTION OF THE
OWNER REGARDING THE PERSON WHO WILL BECOME THE OWNER OF THE
SECURITY UPON THE DEATH OF THE OWNER.

(C)     "DEVISEE" MEANS ANY PERSON DESIGNATED IN A WILL TO RECEIVE A
DISPOSITION OF REAL OR PERSONAL PROPERTY.

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