KRS 292.6510: Terms, conditions, and forms for registration.

(1) A registering entity offering to accept registrations in beneficiary form may

establish the terms and conditions under which it will receive requests for

registrations in beneficiary form, and for implementation of registrations in

beneficiary form, includ ing requests for cancellation of previously -registered TOD

beneficiary designations and requests for reregistration to effect a change of

beneficiary. The terms and conditions so established may provide for proving death,

avoiding or resolving any problems concerning fractional shares, designating

primary and contingent beneficiaries, and substituting a named beneficiary's

descendants to take in the place of a named beneficiary in the event of the

beneficiary's death. Substitution may be indicated by append ing to the name of the

primary beneficiary the letters LDPS, standing for "lineal descendants per stirpes."

This designation substitutes a deceased beneficiary's descendants who survive the

owner for a beneficiary who fails to so survive, the descendants t o be identified and

to share in accordance with the law of the beneficiary's domicile at the owner's

death governing inheritance by descendants of an intestate. Other forms of

identifying beneficiaries who are to take on one (1) or more contingencies, and rules

for providing proofs and assurances needed to satisfy reasonable concerns by

registering entities regarding conditions and identities relevant to accurate

implementation of registrations in beneficiary form, may be contained in a

registering entity's terms and conditions.

(2) The following are illustrations of registrations in beneficiary form which a

registering entity may authorize:

(a) Sole owner-sole beneficiary: John S Brown TOD (or POD) John S Brown Jr.;

(b) Multiple owners-sole beneficiary: John S Brown Mary B Brown JT TEN TOD

John S Brown Jr.; and

(c) Multiple owners -primary and secondary (substituted) beneficiaries: John S

Brown Mary B Brown JT TEN TOD John S Brown Jr SUB BENE Peter Q

Brown; or John S Brown Mary B Brown JT TEN TOD John S Brown Jr

LDPS.