Existing law, the Uniform TOD Security Registration Act, provides for the transfer of ownership or proceeds of a security, as defined, by a registering entity to the designated beneficiary or beneficiaries upon the death of the owner without probate or estate administration. Existing law authorizes a security to be registered in beneficiary form if the form is authorized by statute, as specified. Existing law specifies that, upon the death of the sole owner or the last to die of multiple owners, ownership of a security registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. This bill would require a registering entity that receives information establishing knowledge of the death of all owners of a security designated for nonprobate transfer held by that registering entity to initiate its beneficiary notification process, as specified. The bill would require the registering entity to make a reasonable and good faith effort, as defined, to notify each named beneficiary. The bill would require a beneficiary to receive their designated share within 60 days of providing all required documentation to the registering entity, as specified. This bill would specify the necessary information for a nonprofit corporation, charitable trust, or entity that is exempt from federal taxation to establish its legal identity for these purposes. The bill would prohibit a registering entity from requesting additional information, including, among other things, a social security number and driver's license number, from an individual employed by, or serving on the board of, those types of beneficiaries, except as specified. The bill would require a registering entity to permit those types of beneficiaries to demonstrate their entitlement to a security by providing specific documentation. The bill would make its provisions applicable to those types of beneficiaries commencing January 1, 2027. The bill would make its provisions applicable to all other beneficiaries commencing January 1, 2028, if the death of the final owner occurs on or after that date. This bill would make its provisions inapplicable if the death of all owners of a security occurred before January 1, 2027.