15-22-112. Death of a designated beneficiary - effect on designated beneficiary agreement

15-22-112. Death of a designated beneficiary - effect on designated beneficiary agreement. (1) A designated beneficiary agreement is terminated upon the death of either of the parties to the designated beneficiary agreement; however, a right or power which a designated beneficiary agreement conferred upon a designated beneficiary survives the death of the other designated beneficiary. (2) A party to a designated beneficiary agreement who survives a designated beneficiary may enter into a designated beneficiary agreement with a different person so long as it meets the requirements of this article.