Nomination rights in securities: prescribed nomination confers exclusive entitlement to the nominee upon the holder's death. Every holder of securities may nominate, in the prescribed manner, a person to whom his securities shall vest on death; joint holders may jointly nominate a person to receive all rights on the death of all joint holders. A valid nomination operates notwithstanding other laws or dispositions, and the nominee becomes entitled to all rights in the securities on the holder's or joint holders' death to the exclusion of others, unless varied or cancelled as prescribed. If the nominee is a minor, the holder may appoint, as prescribed, a person to take the securities if the nominee dies during minority.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Nomination rights in securities: prescribed nomination confers exclusive entitlement to the nominee upon the holder's death.
Every holder of securities may nominate, in the prescribed manner, a person to whom his securities shall vest on death; joint holders may jointly nominate a person to receive all rights on the death of all joint holders. A valid nomination operates notwithstanding other laws or dispositions, and the nominee becomes entitled to all rights in the securities on the holder's or joint holders' death to the exclusion of others, unless varied or cancelled as prescribed. If the nominee is a minor, the holder may appoint, as prescribed, a person to take the securities if the nominee dies during minority.
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