Utah Statutes
§ 75A-7-104 — Assignment of security by a fiduciary.
Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary:
(1)may assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and is not in breach of his fiduciary duties;
(2)may assume without inquiry that the fiduciary has complied with any controlling instrument and with the law of the jurisdiction governing the fiduciary relationship, including any law requiring the fiduciary to obtain court approval of the transfer; and
(3)is not charged with notice of and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to the fiduciary relationship or the assignment, even though t
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Legislative History
Renumbered and Amended by Chapter 364, 2024 General Session
Nearby Sections
15
§ 75A-1-101
Definitions for title.§ 75A-1-102
Transition clause.§ 75A-1-201
Definitions for part.§ 75A-1-202
Transactions prior to May 12, 1925.§ 75A-1-203
Payments or transfers made to a fiduciary.§ 75A-1-206
Checks drawn by or payable to a fiduciary.§ 75A-1-207
Bank deposits in the name of a fiduciary.§ 75A-1-208
Checks drawn in name of a principal.§ 75A-1-209
Deposits in a fiduciary's personal account.§ 75A-1-210
Deposits in name of several trustees.§ 75A-2-101
Reserved.§ 75A-2-102
Definitions for chapter.§ 75A-2-103
Applicability.