RSA 563-C:2 · Definitions

563-C:2 Definitions. – In this chapter:

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I.

"Beneficiary form" means a registration of a security which indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner.

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II.

"Person" means an individual, corporation, organization, or other legal entity.

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III.

"POD" means "pay on death."

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IV.

"Register," including its derivatives, means to issue a certificate showing the ownership of a certified security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.

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V.

"Registering entity" means a person who originates or transfers a security title by registration, and includes a broker, a bank defined in RSA 383-A:2-201(a)(3) which engages in business in this state and maintains security accounts for customers, a transfer agent or other person acting for or as an issuer of securities.

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VI.

"Security" means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer, and includes a certificated security, an uncertificated security, and a security account.

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VII.

"Security account" means:

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(a)

A reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner's death; or

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(b)

A cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death.

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VIII.

"TOD" means "transfer on death." Source. 1997, 231:1. 2006, 320:46, eff. Aug. 19, 2006. 2015, 272:36, eff. Oct. 1, 2015.

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