Property: nonprobate transfer of ownership.

Summary

The bill changes California probate law so that when the last owner of a security dies, the entity that holds the security must start a notification process for the named beneficiaries within 60 days. It also caps the personal information the registrar may request, especially for nonprofit or charitable beneficiaries, and bans requirements such as opening a new account or coordinating among multiple beneficiaries.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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