Section 5503 Of Part 3. Uniform Tod Security Registration Act From California Probate Code >> Division 5. >> Part 3.
5503
. A security may be registered in beneficiary form if the form
is authorized by this or a similar statute of the state of
organization of the issuer or registering entity, the location of the
registering entity's principal office, the office of its transfer
agent or its office making the registration, or by this or a similar
statute of the law of the state listed as the owner's address at the
time of registration. A registration governed by the law of a
jurisdiction in which this or similar legislation is not in force or
was not in force when a registration in beneficiary form was made is
nevertheless presumed to be valid and authorized as a matter of
contract law.