55-8-1. Definition of terms. 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 trust, […]
55-8-10. Claim of beneficial interest adverse to transfer of security–Notice of presentment to claimant–Restraining order. As soon as practicable after the presentation of a security for transfer pursuant to an assignment by a fiduciary, a corporation or transfer agent which has received notice of a claim of beneficial interest adverse to the transfer may send […]
55-8-11. Liability of corporation or transfer agent for making or refusing transfer. Nothing in this chapter relieves the corporation or transfer agent of any liability for making or refusing to make the transfer after it is put on notice pursuant to §55-8-9, unless it proceeds in the manner authorized in §55-8-10. Source: SL 1961, ch […]
55-8-12. Nonliability of corporation or transfer agent for authorized acts. 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. Source: SL 1961, ch 22, §6.
55-8-13. Participation in breach of fiduciary duty–Nonliability 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 […]
55-8-14. Liability of guarantor of signature of fiduciary. If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of this chapter incurs […]
55-8-15. Corporation and transfer agent not liable for breach of fiduciary duty or on guarantee of fiduciary’s signature. Sections 55-8-13 and 55-8-14 do not impose any liability upon the corporation or its transfer agent. Source: SL 1961, ch 22, §7 (3).
55-8-16. Tax obligations of corporation or transfer agent not affected by chapter. 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. Source: SL 1961, ch 22, §9.
55-8-17. 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. Source: SL 1961, ch 22, §10.
55-8-18. Citation of chapter. This chapter may be cited as the Uniform Act for the Simplification of Fiduciary Security Transfers. Source: SL 1961, ch 22, §11.
55-8-2. Rights and duties of corporation and transfer agent–Law governing. The rights and duties of a corporation and its transfer agent 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 […]
55-8-3. Application of chapter. This chapter applies to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this state in connection with the acquisition, disposition, assignment, or transfer of a security by or to a fiduciary and of a person who guarantees […]
55-8-4. Registration of security 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 the corporation and its […]
55-8-5. Assignment of security by fiduciary–Assumption as to authority and capacity. 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 […]
55-8-6. Assignment of security by fiduciary–Compliance with controlling instrument and law governing fiduciary relationship assumed. 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 fiduciary has complied with any controlling instrument and with […]
55-8-7. Assignment of security by fiduciary–Corporation or transfer agent not charged with notice of records or documents. 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 is not charged with notice of and is not bound to obtain or […]
55-8-8. Assignment of security by fiduciary not the registered owner–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 […]
55-8-9. Claim of beneficial interest adverse to transfer of security–Written notice to corporation or transfer agent, contents. 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 […]
