Authorizing a sole owner of a vessel to designate a beneficiary to take ownership of the vessel on the death of the owner; providing that a beneficiary may be indicated on a certificate of title for a vessel by the words "transfer-on-death" or "TOD" after the name of the registered owner; providing that designating a beneficiary does not affect ownership of a vessel until the death of the owner; authorizing the owner of a vessel to cancel or change the designation of a beneficiary without the consent of the beneficiary; etc.
Bill File Type: Regular
Effective Date(s): October 1, 2020
( 8-715, 8-715.1, 8-720 )
Last Updated: 9/22/2020 3:30 PM