Effective – 28 Aug 1959 403.250. Definitions. — In sections 403.250 to 403.350, 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, […]
Effective – 28 Aug 1959 403.260. 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, and thereafter […]
Effective – 28 Aug 1959 403.270. Assignment by a fiduciary. — Except as otherwise provided in sections 403.250 to 403.350, 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 to his […]
Effective – 28 Aug 1959 403.280. 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, […]
Effective – 28 Aug 1959 403.290. Adverse claims. — 1. 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 […]
Effective – 28 Aug 1959 403.300. Nonliability 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 sections 403.250 to 403.350. ——– (L. 1959 S.B. 241 § 6)
Effective – 28 Aug 1959 403.310. Nonliability of third person. — 1. 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 […]
Effective – 28 Aug 1959 403.320. Territorial application. — 1. 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 […]
Effective – 28 Aug 1959 403.330. Tax obligations. — Sections 403.250 to 403.350 do 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. ——– (L. 1959 S.B. 241 § 9)
Effective – 28 Aug 1959 403.340. Uniformity of interpretation. — This law shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it. ——– (L. 1959 S.B. 241 § 10)
Effective – 28 Aug 1959 403.350. Short title. — Sections 403.250 to 403.350 may be cited as the “Uniform Law for Simplification of Fiduciary Security Transfers”. ——– (L. 1959 S.B. 241 § 11)
