2015 Connecticut General Statutes
Title 45a - Probate Courts and Procedure
Chapter 802b - Decedents’ Estates
Section 45a-468h - Protection of registering entity.
(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 sections 45a-468 to 45a-468m, inclusive, and section 45a-369. No registering entity shall accept a request from an owner of a security for registration in beneficiary form unless such request is in writing.
(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 sections 45a-468 to 45a-468m, inclusive, and section 45a-369.
(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 section 45a-468g and does so in good faith reliance (1) on the registration, (2) on sections 45a-468 to 45a-468m, inclusive, and section 45a-369, 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 sections 45a-468 to 45a-468m, inclusive, and section 45a-369 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 said sections.
(d) The protection provided by sections 45a-468 to 45a-468m, inclusive, and section 45a-369 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.
(P.A. 97-42, S. 8.)
Disclaimer: These codes may not be the most recent version. Connecticut may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.