Texas Business & Commerce Code

§ 8.401 — DUTY OF ISSUER TO REGISTER TRANSFER

BC § 8.401Title 1. UNIFORM COMMERCIAL CODE · Ch. 8. INVESTMENT SECURITIES · Art. D. REGISTRATION

Statute text

(a)If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as requested if:

(1)under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name;

(2)the indorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on behalf of the appropriate person;

(3)reasonable assurance is given that the indorsement or instruction is genuine and authorized (Section 8.402);

(4)any applicable law relating to the collection of taxes has been complied with;

(5)the transfer does not violate any restriction on transfer imposed by the issuer in accordance with Section 8.204;

…

Legislative history

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