17-4904. Registration in the name of a fiduciary.
17-4904
17-4904. Registration in the name of a 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 transfer
agent may assume without inquiry that the newly registered owner continues
to be the fiduciary until the corporation or transfer agent receives
written notice that the fiduciary is no longer acting as such with respect
to the particular security.
History: L. 1961, ch. 123, § 2; July 1.