§ 8.8A-402. Assurance that endorsement or instruction is effective.
(a) An issuer may require the following assurance that each necessaryendorsement or each instruction is genuine and authorized:
(1) in all cases, a guaranty of the signature of the person making anendorsement or originating an instruction including, in the case of aninstruction, reasonable assurance of identity;
(2) if the endorsement is made or the instruction is originated by an agent,appropriate assurance of actual authority to sign;
(3) if the endorsement is made or the instruction is originated by afiduciary pursuant to § 8.8A-107 (a) (4) or (a) (5), appropriate evidence ofappointment or incumbency;
(4) if there is more than one fiduciary, reasonable assurance that all whoare required to sign have done so; and
(5) if the endorsement is made or the instruction is originated by a personnot covered by another provision of this subsection, assurance appropriate tothe case shall correspond as nearly as may be to the provisions of thissubsection.
(b) An issuer may elect to require reasonable assurance beyond that specifiedin this section.
(c) In this section:
(1) "Guaranty of the signature" means a guaranty signed by or on behalf ofa person reasonably believed by the issuer to be responsible. An issuer mayadopt standards with respect to responsibility if they are not manifestlyunreasonable.
(2) "Appropriate evidence of appointment or incumbency" means:
(i) in the case of a fiduciary appointed or qualified by a court, acertificate issued by or under the direction or supervision of the court oran officer thereof and dated within sixty days before the date ofpresentation for transfer; or
(ii) in any other case, a copy of a document showing the appointment or acertificate issued by or on behalf of a person reasonably believed by anissuer to be responsible or, in the absence of that document or certificate,other evidence the issuer reasonably considered appropriate.
§ 8.8A-402. Assurance that endorsement or instruction is effective.
(a) An issuer may require the following assurance that each necessaryendorsement or each instruction is genuine and authorized:
(1) in all cases, a guaranty of the signature of the person making anendorsement or originating an instruction including, in the case of aninstruction, reasonable assurance of identity;
(2) if the endorsement is made or the instruction is originated by an agent,appropriate assurance of actual authority to sign;
(3) if the endorsement is made or the instruction is originated by afiduciary pursuant to § 8.8A-107 (a) (4) or (a) (5), appropriate evidence ofappointment or incumbency;
(4) if there is more than one fiduciary, reasonable assurance that all whoare required to sign have done so; and
(5) if the endorsement is made or the instruction is originated by a personnot covered by another provision of this subsection, assurance appropriate tothe case shall correspond as nearly as may be to the provisions of thissubsection.
(b) An issuer may elect to require reasonable assurance beyond that specifiedin this section.
(c) In this section:
(1) "Guaranty of the signature" means a guaranty signed by or on behalf ofa person reasonably believed by the issuer to be responsible. An issuer mayadopt standards with respect to responsibility if they are not manifestlyunreasonable.
(2) "Appropriate evidence of appointment or incumbency" means:
(i) in the case of a fiduciary appointed or qualified by a court, acertificate issued by or under the direction or supervision of the court oran officer thereof and dated within sixty days before the date ofpresentation for transfer; or
(ii) in any other case, a copy of a document showing the appointment or acertificate issued by or on behalf of a person reasonably believed by anissuer to be responsible or, in the absence of that document or certificate,other evidence the issuer reasonably considered appropriate.
§ 8.8A-402. Assurance that endorsement or instruction is effective.
(a) An issuer may require the following assurance that each necessaryendorsement or each instruction is genuine and authorized:
(1) in all cases, a guaranty of the signature of the person making anendorsement or originating an instruction including, in the case of aninstruction, reasonable assurance of identity;
(2) if the endorsement is made or the instruction is originated by an agent,appropriate assurance of actual authority to sign;
(3) if the endorsement is made or the instruction is originated by afiduciary pursuant to § 8.8A-107 (a) (4) or (a) (5), appropriate evidence ofappointment or incumbency;
(4) if there is more than one fiduciary, reasonable assurance that all whoare required to sign have done so; and
(5) if the endorsement is made or the instruction is originated by a personnot covered by another provision of this subsection, assurance appropriate tothe case shall correspond as nearly as may be to the provisions of thissubsection.
(b) An issuer may elect to require reasonable assurance beyond that specifiedin this section.
(c) In this section:
(1) "Guaranty of the signature" means a guaranty signed by or on behalf ofa person reasonably believed by the issuer to be responsible. An issuer mayadopt standards with respect to responsibility if they are not manifestlyunreasonable.
(2) "Appropriate evidence of appointment or incumbency" means:
(i) in the case of a fiduciary appointed or qualified by a court, acertificate issued by or under the direction or supervision of the court oran officer thereof and dated within sixty days before the date ofpresentation for transfer; or
(ii) in any other case, a copy of a document showing the appointment or acertificate issued by or on behalf of a person reasonably believed by anissuer to be responsible or, in the absence of that document or certificate,other evidence the issuer reasonably considered appropriate.
