Utah Statutes
§ 70A-8-108 — Warranties in indirect holding.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-8 Uniform Commercial Code - Investment Securities·Part 70A-8-1 Short Title and General Matters
(1)A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that:
(1)(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
(1)(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 Subsection 70A-8-107(1) or (2).
(3)If a securities intermediary delivers a security certificate t
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Legislative History
Repealed and Re-enacted by Chapter 204, 1996 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.