Loading chat...

AZ SB1068

Bill

Official Source

Status

Introduced

1/9/2018

Primary Sponsor

Kate Brophy McGee

Click for details

Origin

Senate

Fifty-third Legislature - Second Regular Session (2018)

AI Summary

  • Amends Arizona Revised Statutes section 14-6303 to clarify the registration requirements for securities in beneficiary form.
  • Removes the phrase "of the law" from subsection A to correct statutory language regarding which state's laws authorize beneficiary form registration.
  • Confirms that securities registered in beneficiary form remain valid and enforceable under contract law even in jurisdictions without similar nonprobate transfer statutes.
  • Applies to registrations made by issuers, transfer agents, and other registering entities across different states.

Legislative Description

Technical correction; nonprobate transfers

Technical Correction

Last Action

Senate read second time

1/10/2018

Full Bill Text

No bill text available