Section 55-8-507 – Duty of securities intermediary to comply with entitlement order.
(a) A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities intermediary has had reasonable opportunity to assure itself that the entitlement order is genuine and authorized, and the securities intermediary has had reasonable opportunity to comply with the entitlement order. A securities intermediary […]
Section 55-8-406 – Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate.
If a security certificate has been lost, apparently destroyed or wrongfully taken, and the owner fails to notify the issuer of that fact within a reasonable time after the owner has notice of it and the issuer registers a transfer of the security before receiving notification, the owner may not assert against the issuer a […]
Section 55-8-407 – Authenticating trustee, transfer agent and registrar.
A person acting as authenticating trustee, transfer agent, registrar or other agent for an issuer in the registration of a transfer of its securities, in the issue of new security certificates or uncertificated securities or in the cancellation of surrendered security certificates has the same obligation to the holder or owner of a certificated or […]
Section 55-8-408 – Repealed.
ANNOTATIONS Repeals. — Laws 1996, ch. 47, § 70 repealed 55-8-408, as amended by Laws 1987, ch. 248, § 46, relating to statements of uncertificated securities, effective May 15, 1996. For provisions of former section, see the 1995 NMSA 1978 on NMOneSource.com.
Section 55-8-304 – Indorsement.
(a) An indorsement may be in blank or special. An indorsement in blank includes an indorsement to bearer. A special indorsement specifies to whom a security is to be transferred or who has power to transfer it. A holder may convert a blank indorsement to a special indorsement. (b) An indorsement purporting to be only […]
Section 55-8-305 – Instruction.
(a) If an instruction has been originated by an appropriate person but is incomplete in any other respect, any person may complete it as authorized and the issuer may rely on it as completed, even though it has been completed incorrectly. (b) Unless otherwise agreed, a person initiating an instruction assumes only the obligations imposed […]
Section 55-8-306 – Effect of guaranteeing signature, indorsement or instruction.
(a) A person who guarantees a signature of an indorser of a security certificate warrants that at the time of signing: (1) the signature was genuine; (2) the signer was an appropriate person to indorse or, if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate […]
Section 55-8-307 – Purchaser’s right to requisites for registration of transfer.
Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any other requisite necessary to obtain registration of the transfer of the security, but if the transfer is not for value, a transferor need not comply unless the purchaser pays the necessary […]
Section 55-8-308 to 55-8-321 – Repealed.
ANNOTATIONS Repeals. — Laws 1996, ch. 47, § 70 repealed 55-8-308 through 55-8-321 NMSA 1978, as amended by Laws 1987, ch. 248, §§ 25 through 37 and as enacted by Laws 1987, ch. 248, § 38, relating to the purchase of securities, effective May 15, 1996. For provisions of former sections, see the 1995 NMSA […]
Section 55-8-401 – Duty of issuer to register transfer.
(a) If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as requested if: (1) under the terms of the security the person […]