CHAPTER 20

An Act to amend the Code of Virginia by adding in Title 18.1 thereof a
new Chapter numbered 4.2, containing sections numbered 18.1-434
through 18.1-486, relating to the transfer of securities registered in
joint names.

(H 10]

Approved February 17, 1960

Be it enacted by the General Assembly of Virginia: __
1. That the Code of Virginia be amended by adding in Title 13.1 thereof
a new Chapter numbered 4.2, containing sections numbered 13.1-434
through 18.1-436 as follows:
Chapter 4.2
Securities Registered in Joint Names

§ 18.1-484. As used in this Chapter

(a) “Corporation” means a private or public corporation, association,
or trust issuing a security.

) “Security” includes any share of stock, bond, debenture, note or
other security issued by a corporation and registered as to ownership on
the books of the corporation.

(c) “Transfer agent” includes any person employed or authorized to
transfer securities issued by a corporation, including a registrar.

§ 13.1-435. Whenever a security issued by a corporation organized
under the laws of this State shall be registered in the names of two or
more persons as joint tenants with right of survivorship or in the names
of a man and a woman as tenants by the entireties with right of survivor-
ship and one of such persons dies, such corporation and any transfer agent
of such corporation shall, upon receipt of evidence of death, be entitled to
treat the survivor or survivors as the owner or owners of such security
for all purposes and to cause such security to be registered in the name
of such survivor or survivors regardless of any claim of right through the
decedent or by his personal representative, unless such registration shall
be enjoined prior to its effectuation by a court of competent jurisdiction.

§ 13.1-436. This chapter shall apply to all transfers of securities by
transfer agents domiciled in this State and by all corporations incorporated
under the laws of this State and their transfer agents regardless of the
place of transfer or the residence or domicile of the registered owners of
any such security.