Arizona § 47-8109 Warranties in indirect holding

Arizona Statutes

§ 47-8109 — Warranties in indirect holding

Arizona § 47-8109

Title 47Arizona Revised Statutes

Ch. 8INVESTMENT SECURITIES

Art. 1Short Title and General Matters

This text of Arizona § 47-8109 (Warranties in indirect holding) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-8109 (2026).

Text

A.A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that:

1.The entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person; and

2.There is no adverse claim to the security entitlement.

B.A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in section 47-8108, subsection A or B.

C.If a securities intermediary delivers a security certificate to it

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A. A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that:

1. The entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person; and

2. There is no adverse claim to the security entitlement.

B. A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in section 47-8108, subsection A or B.

C. If a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the entitlement holder the warranties specified in section 47-8108, subsection A or B.