§ 91-11-1. Citation of chapter
This chapter may be cited as the Uniform Act for Simplification of Fiduciary Security Transfers.
§ 91-11-11. Adverse claims
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 claimant, the registered owner, and […]
§ 91-11-13. 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.
§ 91-11-15. Non-liability of third persons
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 involves such a breach unless it is […]
§ 91-11-17. Territorial application
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 organized. This chapter applies to […]
§ 91-11-19. 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.
§ 91-11-21. Uniformity of interpretation
This chapter shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it.
§ 91-11-3. Definitions
In this chapter, unless the context otherwise requires: “Assignment” includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer. “Claim of beneficial interest” includes a claim of any interest by a decedent’s legatee, distributee, heir, or creditor, a beneficiary under a trust, a ward, a beneficial […]
§ 91-11-5. Registration in name of 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. Thereafter the corporation and its transfer agent may assume without inquiry that the newly […]
§ 91-11-7. Assignment by 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: may assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and is not in breach of his […]
§ 91-11-9. 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: In the case of a fiduciary appointed or qualified by a court, a certificate issued by or under the direction or supervision of that court […]