PART 4. 
REGISTRATION



 



§490:8-401  Duty of issuer to register
transfer.  (a)  If a certificated security in registered form is presented
to an issuer with a request to register transfer or an instruction is presented
to an issuer with a request to register transfer of an uncertificated security,
the issuer shall register the transfer as requested if:



(1)  Under the terms of the security the person
seeking registration of transfer is eligible to have the security registered in
its name;



(2)  The indorsement or instruction is made by the
appropriate person or by an agent who has actual authority to act on behalf of
the appropriate person;



(3)  Reasonable assurance is given that the
indorsement or instruction is genuine and authorized (section 490:8-402);



(4)  Any applicable law relating to the collection of
taxes has been complied with;



(5)  The transfer does not violate any restriction on
transfer imposed by the issuer in accordance with section 490:8-204;



(6)  A demand that the issuer not register transfer has
not become effective under section 490:8-403, or the issuer has complied with
section 490:8-403(b) but no legal process or indemnity bond is obtained as
provided in section 490:8-403(d); and



(7)  The transfer is in fact rightful or is to a
protected purchaser.



(b)  If an issuer is under a duty to register a
transfer of a security, the issuer is liable to a person presenting a
certificated security or an instruction for registration or to the person's
principal for loss resulting from unreasonable delay in registration or failure
or refusal to register the transfer. [L 1997, c 33, pt of §2]