Bill Text: AZ HB2189 | 2010 | Forty-ninth Legislature 2nd Regular | Introduced
Bill Title: Technical correction; nonprobate transfers
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2010-03-08 - House Committee of the Whole action: Retained on the Calendar [HB2189 Detail]
Download: Arizona-2010-HB2189-Introduced.html
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REFERENCE TITLE: technical correction; nonprobate transfers |
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State of Arizona House of Representatives Forty-ninth Legislature Second Regular Session 2010
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HB 2189 |
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Introduced by Representatives Weiers JP, Gowan: Crump
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AN ACT
amending section 14-6303, Arizona Revised Statutes; relating to nonprobate transfers of securities.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 14-6303, Arizona Revised Statutes, is amended to read:
14-6303. Registration in beneficiary form; applicable law
A. A security may be registered in beneficiary form if the form is authorized by this article or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of its transfer agent or its office making the registration or by this article or a similar statute of the law of the state listed as the owner's address at the time of registration.
B. A registration governed by the law of a jurisdiction in which a law that is similar to this article is not in force or was not in force when a registration in beneficiary form was made is presumed to be valid and authorized as a matter of contract law. END_STATUTE
