Section R7-3-504. Changing Designated Beneficiary

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An account owner may change the designated beneficiary so long as the new designated beneficiary is a member of the family, as defined in A.R.S. § 15-1871(8), of the previously named designated beneficiary. The account owner must certify and provide to the financial institution the name, address, social security number, and relationship of the new designated beneficiary to the previously named designated beneficiary. The change shall be effective upon the financial institution’s receipt of such certification.

Historical Note

Adopted effective October 31, 1997, under an exemption from the Administrative Procedure Act pursuant to

A.R.S. § 15-1852(C) (Supp. 97-4). Section repealed; new Section adopted effective December 21, 1998, under an exemption from the Administrative Procedure Act pursu-

ant to A.R.S. § 15-1852(C) (Supp. 98-4).

                    
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