2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 64 - Transfer on Death Security Registration
6408 - Protection of registering entity.

     § 6408.  Protection of registering entity.
        (a)  General rule.--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 chapter.
        (b)  Implementation.--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 chapter.
        (c)  Discharge.--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 a security in
     accordance with section 6407 (relating to ownership on death of
     owner) and does so in good faith reliance on the registration,
     on this chapter and 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 chapter do not
     extend to a reregistration or payment made after the 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 chapter.
        (d)  Rights of beneficiaries not affected.--The protection
     provided by this chapter 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.