District of Columbia § 28-2902 Registration in name of a fiduciary.

District of Columbia Statutes

§ 28-2902 — Registration in name of a fiduciary.

District of Columbia·Title 28 Commercial Instruments and Transactions. [Enacted title]·Ch. 29 Fiduciary Security Transfers.

A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship, and thereafter the corporation and its transfer agent may assume without inquiry that the newly registered owner continues to be the fiduciary until the corporation or transfer agent receives written notice that the fiduciary is no longer acting as such with respect to the particular security.

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A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship, and thereafter the corporation and its transfer agent may assume without inquiry that the newly registered owner continues to be the fiduciary until the corporation or transfer agent receives written notice that the fiduciary is no longer acting as such with respect to the particular security.

District of Columbia § 28-2902 (Registration in name of a fiduciary.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.