olive: i think that works, thought you might argue "If any Object, other than the State, is not Held by any other Objects, then it becomes Held by the State." kicks in during the instant where one of the ◯s has no holders.
let me try something. i create "Player ubq323 Garfield" and add regulation:
whenever an object named "Player ubq323 Jon" exists, set it as my only Holder
i create "Player ubq323 Jon" and add regulation:
whenever an object named "Player ubq323 Garfield" exists, set it as my only Holder