HI SB2240

Allows vehicle owners to designate a beneficiary upon registration to whom ownership automatically transfers upon the owner's death.

Beneficiary designations may be revoked or changed by selling the vehicle, applying for a new certificate without the designation, or through a subsequently executed will.

The beneficiary's interest is subject to any existing contracts, assignments, or security interests on the vehicle at the time of the owner's death.

Requires certificates of ownership for vehicles with beneficiary designations to include the words "transfer on death to" or "TOD" followed by the beneficiary's name.

Amends statutory references to reflect the new beneficiary transfer process as a method of title transfer by operation of law.