{"jurisdiction": "us-ny", "code": "eptl", "section": "13-4.8", "citation": "EPTL § 13-4.8", "heading": "Protection of registering entity", "text": ["§ 13-4.8 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 part.", "(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 part.", "(c) A registering entity is discharged from all claims to a security by the estate, creditors, distributees, legatees or devisees of a deceased owner if it registers a transfer of the security in accordance with section 13-4.7 and does so in good faith reliance (i) on the registration, (ii) on this part, 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 part 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 part.", "(d) The protection provided by this part 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."], "official_source": "https://www.nysenate.gov/legislation/laws/EPT/13-4.8", "from_official_api": true, "plain_english": "A registering entity that transfers a security registered in beneficiary form on the owner's death is protected if it acts in good faith.\n- **(a)** A registering entity is **not required to offer or to accept** a request for beneficiary-form registration. An owner who requests it **assents to the protections** this part gives the registering entity.\n- **(b)** By **accepting** the request, the registering entity **agrees to implement the registration on the owner's death** as this part provides.\n- **(c)** The entity is **discharged from all claims** by the deceased owner's estate, creditors, distributees, legatees or devisees if it registers the transfer under **§ 13-4.7** in **good-faith reliance** on the registration, on this part, and on information from the personal representative's affidavit, the surviving beneficiary or that beneficiary's representatives, or other information available to it. ★ The protection does **not** cover a reregistration or payment made **after it receives written notice from a claimant objecting** to the beneficiary-form transfer; no other notice or information affects its protection. ★\n- **(d)** This protection does **not affect the rights of beneficiaries in disputes** with other claimants over ownership of the security or its value or proceeds.", "in_force_on": "2026-05-31", "retrieved": "2026-09-27", "url": "https://elyphived.com/us-ny/eptl/13-4.8", "publisher": "Elyphived LLC"}