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Texas Business & Commerce Code

§ 8.305 — INSTRUCTION

BC § 8.305Title 1. UNIFORM COMMERCIAL CODE · Ch. 8. INVESTMENT SECURITIES · Art. C. TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES

Statute text

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(a)If an instruction has been originated by an appropriate person but is incomplete in any other respect, any person may complete it as authorized and the issuer may rely on it as completed, even though it has been completed incorrectly.
(b)Unless otherwise agreed, a person initiating an instruction assumes only the obligations imposed by Section 8.108 and not an obligation that the security will be honored by the issuer.

Legislative history

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

Source: Texas Business & Commerce Code § 8.305 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.