Object confusion

Ok another noob question here...

p:player = new player

players = new tlist
(Now load all players into the players list)
deadplayers = new tlist

function killplayer()
  local pl:player

  for pl = eachin players
    if pl.cond$ = "dead" then
      deadplayers.addlast pl
    end if
  next
end function

Ok here is the question, how many copies of pl do I have? When the player dies I want to move it over to the dead players list. If I do not remove it from the first list which scenario do I have:
(1) Two copies of PL that can be independantly modified
(2) One copy of PL that is refferenced in both lists

Thanks all!