Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 292.6508.Protection of registering entity

(1) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by KRS 292.6501 to 292.6512.

(2) By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on death of the deceased owner as provided in KRS 292.6501 to 292.6512.

(3) A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the security in accordance with KRS 292.6507 and does so in good faith reliance:

(4) The protection provided by KRS 292.6501 to 292.6512 to the registering entity of a security does not affect the rights of the beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds.