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59-3513. Other nontestamentary transfers. (a) A provision in the following for a nonprobate transfer on death is nontestamentary:

(1) Insurance policy or annuity contract;

(2) contract of employment;

(3) current employee compensation or benefit program;

(4) deferred compensation or pension plan, including programs described in sections 401(a), 403(b), 457 or 501(c)(18) of the federal internal revenue code of 1986 as in effect on January 1, 2001;

(5) individual retirement plan, whether custodial or otherwise; or

(6) account established pursuant to a qualified state tuition program under section 529 of the federal internal revenue code of 1986 as in effect on January 1, 2001.

(b) The provisions of subsection (a) do not limit rights of creditors under other laws of this state.

History: L. 2001, ch. 43, § 1; July 1.