Section 441.105 – Fiduciary Security Transfers; Adverse Claims.
441.105 Fiduciary security transfers; adverse claims. Sec. 5. (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 […]
Section 441.106 – Fiduciary Security Transfers; Corporation or Transfer Agent, Nonliability.
441.106 Fiduciary security transfers; corporation or transfer agent, nonliability. Sec. 6. 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: 1959, Act 239, Eff. Mar. 19, 1960
Section 441.107 – Fiduciary Security Transfers; Third Persons, Nonliability.
441.107 Fiduciary security transfers; third persons, nonliability. Sec. 7. (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 […]