Section 18-11-1. – Short title.

§ 18-11-1. Short title. This chapter may be cited as the “Uniform Act for Simplification of Fiduciary Security Transfers”. History of Section.P.L. 1959, ch. 85, § 1.

Section 18-11-10. – Tax obligations.

§ 18-11-10. Tax obligations. This chapter 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 state. History of Section.P.L. 1959, ch. 85, § 10.

Section 18-11-11. – Uniformity of law.

§ 18-11-11. Uniformity of law. This chapter shall be construed to effectuate its general purpose to make uniform the law of those states which enact it. History of Section.P.L. 1959, ch. 85, § 11.

Section 18-11-2. – Definitions.

§ 18-11-2. Definitions. In this chapter, unless the context otherwise requires: (1) “Assignment” includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer. (2) “Claim of beneficial interest” includes a claim of any interest by a decedent’s legatee, distributee, heir or creditor, a beneficiary under a […]

Section 18-11-3. – Registration in the name of a fiduciary.

§ 18-11-3. 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 […]

Section 18-11-4. – Assignment by a fiduciary.

§ 18-11-4. Assignment by a fiduciary. Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary: (1) May assume without inquiry that the assignment, even though to the fiduciary himself or herself or to his or her nominee, is within […]

Section 18-11-5. – Evidence of appointment or incumbency.

§ 18-11-5. 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: (1) In the case of a fiduciary appointed or qualified by a court, a certificate issued by or […]

Section 18-11-6. – Adverse claims.

§ 18-11-6. 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 […]

Section 18-11-7. – Non-liability of corporation and transfer agent.

§ 18-11-7. Non-liability 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 chapter. History of Section.P.L. 1959, ch. 85, § 7.

Section 18-11-8. – Non-liability of third persons.

§ 18-11-8. Non-liability 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 […]

Section 18-11-9. – Territorial applicability.

§ 18-11-9. Territorial applicability. (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 law of the jurisdiction under whose laws the corporation is […]