Okla. Stat. tit. 71, § 71-911: Terms, conditions and form for registration

A. 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, including

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, but need not be limited to, the following:

1. Proving death;

2. Avoiding or resolving problems created by the divorce or

death of a beneficiary in compliance with Section 178 of Title 15 of

the Oklahoma Statutes;

3. Avoiding or resolving any problems concerning fractional

shares;

4. Designating primary and contingent beneficiaries; and

5. Substituting a named beneficiary's descendants to take in

the place of the named beneficiary in the event of the beneficiary's

death.

B. Substitution may be indicated by appending 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 to 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.

C. Other forms of identifying beneficiaries who are to take on

one 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.

D. The following are illustrations of registrations in

beneficiary form which a registering entity may authorize:

1. Sole owner-sole beneficiary: John S Brown TOD (or POD) John

S Brown Jr.

2. Multiple owners-sole beneficiary: John S Brown Mary B Brown

JT TEN TOD John S Brown Jr.

3. 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.