The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9 V.S.A. § 4358)
-
§ 4358. 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 this chapter.
(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 this chapter.
(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 4357 of this chapter and does so in good faith reliance
(i) on the registration, (ii) on this chapter, and (iii) 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 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 this chapter.
(d) 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. (Added 1999, No. 23, § 1.)