Alabama § 8-6-93 Minor May Not Disaffirm Security Transaction Unless Prior Written Notice of Minority Given

Alabama Statutes

§ 8-6-93 — Minor May Not Disaffirm Security Transaction Unless Prior Written Notice of Minority Given

Alabama·Title 8 Commercial Law and Consumer Protection·Ch. 6 Securities·Art. 4 Ownership by Minors

A minor who has transferred a security, received or empowered others to receive dividends, interest, principal, or other payments or distributions, voted or given consent in person or by proxy or made an election or exercised rights relating to the security has no right thereafter, as against a bank, broker, issuer, third-party or transfer agent, to disaffirm or avoid the transaction unless, prior to acting in the transaction, the bank, broker, issuer, third-party or transfer agent against whom the transaction is sought to be disaffirmed or avoided had received written notice in the office acting in the transaction that the specific security is held by a minor.

Free access — add to your briefcase to read the full text and ask questions with AI

A minor who has transferred a security, received or empowered others to receive dividends, interest, principal, or other payments or distributions, voted or given consent in person or by proxy or made an election or exercised rights relating to the security has no right thereafter, as against a bank, broker, issuer, third-party or transfer agent, to disaffirm or avoid the transaction unless, prior to acting in the transaction, the bank, broker, issuer, third-party or transfer agent against whom the transaction is sought to be disaffirmed or avoided had received written notice in the office acting in the transaction that the specific security is held by a minor.

Alabama § 8-6-93 (Minor May Not Disaffirm Security Transaction Unless Prior Written Notice of Minority Given) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.