§ 34.1-8-402 — Assurance that indorsement or instruction is effective

(a) An issuer may require the following assurance that
each necessary indorsement or each instruction is genuine and
authorized:
(i) In all cases, a guaranty of the signature of the
person making an indorsement or originating an instruction
including, in the case of an instruction, reasonable assurance
of identity;
(ii) If the indorsement is made or the instruction is
originated by an agent, appropriate assurance of actual
authority to sign;
(iii) If the indorsement is made or the instruction
is originated by a fiduciary pursuant to W.S. 34.1-8-107(a)(iv)
or (v), appropriate evidence of appointment or incumbency;
(iv) If there is more than one (1) fiduciary,
reasonable assurance that all who are required to sign have done
so; and
(v) If the indorsement is made or the instruction is
originated by a person not covered by another provision of this
subsection, assurance appropriate to the case corresponding as
nearly as may be to the provisions of this subsection.
(b) An issuer may elect to require reasonable assurance
beyond that specified in this section.
(c) In this section:
(i) "Guaranty of the signature" means a guaranty
signed by or on behalf of a person reasonably believed by the
issuer to be responsible. An issuer may adopt standards with
respect to responsibility if they are not manifestly
unreasonable;
(ii) "Appropriate evidence of appointment or
incumbency" means:
(A) In the case of a fiduciary appointed or
qualified by a court, a certificate issued by or under the
direction or supervision of the court or an officer thereof and
dated within sixty (60) days before the date of presentation for
transfer; or
(B) In any other case, a copy of a document
showing the appointment or a certificate issued by or on behalf
of a person reasonably believed by an issuer to be responsible
or, in the absence of that document or certificate, other
evidence the issuer reasonably considers appropriate.