Indiana § 26-1-8.1-109 Warranties made by and to a securities intermediary

Indiana Statutes

§ 26-1-8.1-109 — Warranties made by and to a securities intermediary

Indiana § 26-1-8.1-109

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 8.1Investment Securities

This text of Indiana § 26-1-8.1-109 (Warranties made by and to a securities intermediary) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-8.1-109 (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 IC 26-1-8.1-108(a) or IC 26-1-8.1-108(b).

(c)If a securities intermediary delivers a security certificat

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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 IC 26-1-8.1-108(a)
or IC 26-1-8.1-108(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 IC 26-1-8.1-108(a) or IC 26-1-8.1-108(b).