California Commercial Code

§ 8401

COM § 8401 Effective Jan 1, 1997Div. 8 · Ch. 4

Statute text

(a)If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as requested if the following conditions are met:

(1)Under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name.

(2)The endorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on behalf of the appropriate person.

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Legislative history

Repealed and added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.