HB954: Vessels - Certificate of Title - Transfer-on-Death Beneficiary Designation

Legislative Summary

Requiring that a certificate of title issued for a vessel by the Department of Natural Resources contain a notation indicating a transfer-on-death beneficiary under certain circumstances; authorizing a sole owner of a vessel to designate a beneficiary to take ownership of the vessel on the death of the owner; and providing for the disposition of a vessel if a designated beneficiary does not survive the owner of a vessel; etc.