815 ILCS 10/10

(815 ILCS 10/10)

Sec. 10.

Terms, conditions, and forms 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 (i) for registrations in beneficiary form, and (ii) 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 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 the
named beneficiary in the event of the beneficiary's death.  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.  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.

(b) The following are illustrations of registrations in beneficiary form
which a registering entity may authorize:

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