A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and Sections 45-6-301 through 45-6-311 NMSA 1978 and is not testamentary.
History: 1978 Comp., § 45-6-309, enacted by Laws 1992, ch. 66, § 45; 2005, ch. 143, § 4.
The 2005 amendment, effective July 1, 2005, deleted former Subparagraph B that provided that Sections 45-6-301 to 45-6-311 NMSA 1978 do not limit the rights of creditors of security owners against beneficiaries and other transferees.
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