Section 441.108 - Fiduciary security transfers; territorial application. - Michigan Statutes

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Statutes > Michigan > Chapter-441 > Act-239-of-1959 > Section-441-108

UNIFORM ACT FOR THE SIMPLIFICATION OF FIDUCIARY SECURITY TRANSFERS (EXCERPT)
Act 239 of 1959

441.108 Fiduciary security transfers; territorial application.

Sec. 8.

(a) 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 whose laws the corporation is organized.

(b) This act 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 in this state the signature of a fiduciary in connection with such a transaction.

History: 1959, Act 239, Eff. Mar. 19, 1960

State Codes and Statutes

Statutes > Michigan > Chapter-441 > Act-239-of-1959 > Section-441-108

UNIFORM ACT FOR THE SIMPLIFICATION OF FIDUCIARY SECURITY TRANSFERS (EXCERPT)
Act 239 of 1959

441.108 Fiduciary security transfers; territorial application.

Sec. 8.

(a) 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 whose laws the corporation is organized.

(b) This act 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 in this state the signature of a fiduciary in connection with such a transaction.

History: 1959, Act 239, Eff. Mar. 19, 1960

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State Codes and Statutes

Statutes > Michigan > Chapter-441 > Act-239-of-1959 > Section-441-108

UNIFORM ACT FOR THE SIMPLIFICATION OF FIDUCIARY SECURITY TRANSFERS (EXCERPT)
Act 239 of 1959

441.108 Fiduciary security transfers; territorial application.

Sec. 8.

(a) 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 whose laws the corporation is organized.

(b) This act 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 in this state the signature of a fiduciary in connection with such a transaction.

History: 1959, Act 239, Eff. Mar. 19, 1960