AZ SB1087

Amends Arizona Revised Statutes Section 14-6303 to allow securities to be registered in beneficiary form if authorized by Arizona law, the law of the state where the issuer or registering entity is located, or the law of the state listed as the owner's address at registration.

Removes language referring to "the law" and clarifies that registration is authorized by "this article or a similar statute" of the relevant jurisdiction.

Establishes that registrations governed by jurisdictions without similar beneficiary form laws are presumed valid and authorized under contract law principles.

Applies to nonprobate transfers of securities registered in beneficiary form.