26-1-8.1-403. Demand That Transfer Not Be Registered; Notice; Contents; Liability
Sec. 403. (a) A person who is an appropriate person to make an endorsement 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 part and provides an address […]
26-1-8.1-404. Issuer Liability for Wrongful Registration of Transfer
Sec. 404. (a) Except as otherwise provided in IC 26-1-8.1-406, 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: (1) under an ineffective endorsement or instruction; (2) after a demand that the issuer […]
26-1-8.1-405. Issuance of New Certificates; Protected Purchasers
Sec. 405. (a) 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: (1) so requests before the issuer has notice that the certificate has been acquired by a protected purchaser; […]
26-1-8.1-406. Failure to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Certificates
Sec. 406. 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 […]
26-1-8.1-407. Obligations of Agents Acting on Behalf of Issuer
Sec. 407. A person acting as authenticating trustee, a transfer agent, a 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 […]
26-1-8.1-501. Acquisition of Security Entitlements
Sec. 501. (a) “Securities account” means an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comprise the financial asset. (b) Except as […]
26-1-8.1-502. Adverse Claims Against Person Holding a Security Entitlement
Sec. 502. An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who acquires a security entitlement under IC 26-1-8.1-501 for value and without notice of the adverse claim. As added by P.L.247-1995, SEC.10.
26-1-8.1-503. Property Interests in Financial Assets; Enforcement of Property Rights; Purchasers for Value
Sec. 503. (a) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all interests in that financial asset held by the securities intermediary are held by the securities intermediary for the entitlement holders, are not property of the securities intermediary, and are not subject […]
26-1-8.1-504. Maintenance of Financial Assets by Securities Intermediary; Exempted Entity
Sec. 504. (a) A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all security entitlements it has established in favor of its entitlement holders with respect to that financial asset. The securities intermediary may maintain those financial assets directly or through one (1) or […]
26-1-8.1-505. Duty of Securities Intermediary to Obtain and Pay Distributions on Financial Assets
Sec. 505. (a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if: (1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or (2) in the […]