RCW 62A.8-401
284 words·~1 min read·
/wa/title-62a/chapter-62a-8/62a-8-401·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)If a certificated security in registered form is presented to the issuer with a request to register transfer or an instruction is presented to the issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as requested if:
(a)Under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name;
(b)The indorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on behalf of the appropriate person;
(c)Reasonable assurance is given that the indorsement or instruction is genuine and authorized (RCW 62A.8-402 );
(d)Any applicable law relating to the collection of taxes has been complied with;
(e)The transfer does not violate any restriction on transfer imposed by the issuer in accordance with RCW 62A.8-204 ;
(f)A demand that the issuer not register transfer has not become effective under RCW 62A.8-403 , or the issuer has complied with RCW 62A.8-403
(2)but no legal process or indemnity bond is obtained as provided in RCW 62A.8-403 (4); and
(g)The transfer is in fact rightful or is to a protected purchaser.
(2)If an issuer is under a duty to register a transfer of a security, the issuer is liable to a person presenting a certificated security or an instruction for registration or to the person's principal for loss resulting from unreasonable delay in registration or failure or refusal to register the transfer.
[ 1995 c 48 s 34 ; 1986 c 35 s 37 ; 1965 ex.s. c 157 s 8-401.]
Notes:
Effective date — 1995 c 48: See RCW 62A.11-113 .