Texas Business & Commerce Code

§ 8.107 — WHETHER INDORSEMENT, INSTRUCTION, OR ENTITLEMENT ORDER IS EFFECTIVE

BC § 8.107Title 1. UNIFORM COMMERCIAL CODE · Ch. 8. INVESTMENT SECURITIES · Art. A. SHORT TITLE AND GENERAL MATTERS

Statute text

(a)"Appropriate person" means:

(1)with respect to an indorsement, the person specified by a security certificate or by an effective special indorsement to be entitled to the security;

(2)with respect to an instruction, the registered owner of an uncertificated security;

(3)with respect to an entitlement order, the entitlement holder;

(4)if the person designated in Subdivision (1), (2), or (3) is deceased, the designated person's successor taking under other law or the designated person's personal representative acting for the estate of the decedent; or

(5)if the person designated in Subdivision (1), (2), or (3) lacks capacity, the designated person's guardian, conservator, or other similar representative who has power under other law to transfer the security or financial asset.

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Legislative history

Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.