§412:8-203  Use of nominees.  Atrust company acting in a fiduciary or agency capacity, and any fiduciaryacting as a co-fiduciary with a trust company, may cause any stock, bond, orother security held in such capacity to be registered or held in the name of anominee or nominees of the trust company or in the name of the trust company,without disclosing such fiduciary or agency capacity unless expressly otherwiseprovided by the instrument creating the fiduciary or agency relationship;provided, that the trust company:

(1)  Shall permit the nominee to have possession of oraccess to the stock, bond, or other security;

(2)  Shall clearly show on its records the name of thenominee and that the security is held by such person; and

(3)  Shall be responsible for any loss resulting fromthe act of the nominee.  No liability for any loss occasioned by the acts ofthe trust company or its nominee or nominees, with respect to any stock, bond,or other security so registered or held, shall be imposed upon any corporationthe stock, bond, or other security of which is registered in the name of thetrust company or the nominee or nominees, or upon the transfer agent orregistrar of the corporation. [L 1993, c 350, pt of §1]