There is a newer version of the California Code
2011 California Code
Probate Code
DIVISION 5. NONPROBATE TRANSFERS [5000 - 5705]
PART 3. UNIFORM TOD SECURITY REGISTRATION ACT
Section 5506
CA Prob Code § 5506 (through 2012 Leg Sess) What's This?
The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
(Added by Stats. 1998, Ch. 242, Sec. 2. Effective January 1, 1999.)
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