Iowa § 554.8109 Warranties in indirect holding

Iowa Statutes

§ 554.8109 — Warranties in indirect holding

Iowa § 554.8109

Title XIIICOMMERCE

Ch. 554UNIFORM COMMERCIAL CODE

This text of Iowa § 554.8109 (Warranties in indirect holding) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 554.8109 (2026).

Text

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

a.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

b.there is no adverse claim to the security entitlement.

2.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 554.8108, subsection 1 or 2.

3.If a securities intermediary delivers a security certificate to its e

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1. A person who originates an entitlement order to a securities intermediary warrants to
the securities intermediary that:
a. 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
b. there is no adverse claim to the security entitlement.
2. 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 554.8108, subsection 1 or 2.
3. 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
554.8108, subsection 1 or 2.