17-4903. Definitions. In this act, unless the context otherwise requires: (a) “Assignment” includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer. (b) “Claim of beneficial interest” includes a claim of any interest by a decedent’s legatee, distributee, heir, or creditor, a beneficiary under a trust, […]
17-4904. Registration in the name of a fiduciary. A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship; and thereafter the corporation and its […]
17-4905. Assignment by a fiduciary. Except as otherwise provided in this act, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary: (a) May assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and […]
17-4906. Evidence of appointment or incumbency. A corporation or transfer agent making a transfer pursuant to an assignment by a fiduciary who is not the registered owner shall obtain the following evidence of appointment or incumbency: (a) In the case of a fiduciary appointed or qualified by a court, a certificate issued by or under […]
17-4907. Adverse claims. (a) A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim. The corporation or transfer agent is not put on notice unless the written notice identifies the claimant, […]
17-4908. Nonliability of corporation and transfer agent. A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting in a manner authorized by this act. History: L. 1961, ch. 123, § 6; July 1.
17-4909. Nonliability of third persons. (a) No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves […]
17-4910. Rights and duties of corporation and transfer agents in registering or transferring securities. (a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the […]
17-4911. Tax obligations of corporation and transfer agents; proof of inheritance tax lien release not required prior to transfer. The uniform act for the simplification of fiduciary security transfers does not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession or other taxes imposed by the laws of this […]
17-4912. Uniformity of interpretation. This act shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it. History: L. 1961, ch. 123, § 10; July 1.
17-4913. Title of act. This act may be cited as the uniform act for the simplification of fiduciary security transfers. History: L. 1961, ch. 123, § 11; July 1.
