Section 8-6-90 – Short Title.
Section 8-6-90 Short title. This article may be cited as the Securities Ownership by Minors Act. (Acts 1961, No. 1010, p. 1585, §5.)
Section 8-6-90 Short title. This article may be cited as the Securities Ownership by Minors Act. (Acts 1961, No. 1010, p. 1585, §5.)
Section 8-6-91 Definitions. In this article, unless the context otherwise requires, the following terms shall have the meanings ascribed to them by this section: (1) BANK. A bank, trust company, national banking association, savings bank, or industrial bank. (2) BROKER. A person, including a bank, lawfully engaged in the business of effecting transactions in securities […]
Section 8-6-92 Liability of bank, transfer agent, etc., for treating minor as having capacity to exercise security rights; presumption that holder not minor. (a) A bank, broker, issuer, third-party or transfer agent incurs no liability by reason of his treating a minor as having capacity to transfer a security, to receive or to empower others […]
Section 8-6-93 Minor may not disaffirm security transaction unless prior written notice of minority given. A minor who has transferred a security, received or empowered others to receive dividends, interest, principal, or other payments or distributions, voted or given consent in person or by proxy or made an election or exercised rights relating to the […]
Section 8-6-94 Right of minor to receive dividends, etc. A minor may receive in his own right dividends or other moneys in respect to any securities standing in his name on the books of a corporation, bank, or business trust, and such receipt shall constitute a valid and sufficient release and discharge of the corporation, […]
Section 8-6-95 Certain laws not affected by article. Nothing in this article shall be construed to repeal or in any way affect Sections 10-6-1 through 10-6-4. (Acts 1961, No. 1010, p. 1585, §7.)