West Virginia § 46-8-109 Warranties in indirect holding

West Virginia Statutes

§ 46-8-109 — Warranties in indirect holding

West Virginia § 46-8-109

Ch. 46UNIFORM COMMERCIAL CODE

Art. 8INVESTMENT SECURITIES

This text of West Virginia § 46-8-109 (Warranties in indirect holding) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 46-8-109 (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 section 8-108(a) or (b).

(c)If a securities intermediary delivers a security certificate to its enti

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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 section 8-108(a) or (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 section 8-108(a) or (b).