Section 28-8-305 – INSTRUCTION.
28-8-305. INSTRUCTION. (1) 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. (2) Unless otherwise agreed, a person initiating an instruction assumes only the […]
Section 28-8-507 – DUTY OF SECURITIES INTERMEDIARY TO COMPLY WITH ENTITLEMENT ORDER.
28-8-507. DUTY OF SECURITIES INTERMEDIARY TO COMPLY WITH ENTITLEMENT ORDER. (1) 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 […]
Section 28-8-306 – EFFECT OF GUARANTEEING SIGNATURE, INDORSEMENT OR INSTRUCTION.
28-8-306. EFFECT OF GUARANTEEING SIGNATURE, INDORSEMENT OR INSTRUCTION. (1) A person who guarantees a signature of an indorser of a security certificate warrants that at the time of signing: (a) The signature was genuine; (b) The signer was an appropriate person to indorse, or if the signature is by an agent, the agent had actual […]
Section 28-8-307 – PURCHASER’S RIGHT TO REQUISITES FOR REGISTRATION OF TRANSFER.
28-8-307. 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 […]
Section 28-8-401 – DUTY OF ISSUER TO REGISTER TRANSFER.
28-8-401. DUTY OF ISSUER TO REGISTER TRANSFER. (1) 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: (a) Under […]
Section 28-8-402 – ASSURANCE THAT INDORSEMENT OR INSTRUCTION IS EFFECTIVE.
28-8-402. ASSURANCE THAT INDORSEMENT OR INSTRUCTION IS EFFECTIVE. (1) An issuer may require the following assurance that each necessary indorsement or each instruction is genuine and authorized: (a) In all cases, a guaranty of the signature of the person making an indorsement or originating an instruction including, in the case of an instruction, reasonable assurance […]
Section 28-8-403 – DEMAND THAT ISSUER NOT REGISTER TRANSFER.
28-8-403. DEMAND THAT ISSUER NOT REGISTER TRANSFER. (1) A person who is an appropriate person to make an indorsement or originate an instruction may demand that the issuer not register transfer of a security by communicating to the issuer a notification that identifies the registered owner and the issue of which the security is a […]
Section 28-8-404 – WRONGFUL REGISTRATION.
28-8-404. WRONGFUL REGISTRATION. (1) Except as otherwise provided in section 28-8-406, an issuer is liable for wrongful registration of transfer if the issuer has registered a transfer of a security to a person not entitled to it, and the transfer was registered: (a) Pursuant to an ineffective indorsement or instruction; (b) After a demand that […]
Section 28-8-405 – REPLACEMENT OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE.
28-8-405. REPLACEMENT OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE. (1) If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed or wrongfully taken, the issuer shall issue a new certificate if the owner: (a) So requests before the issuer has notice that the […]
Section 28-8-406 – OBLIGATION TO NOTIFY ISSUER OF LOST, DESTROYED OR WRONGFULLY TAKEN SECURITY CERTIFICATE.
28-8-406. 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 […]