UTAH CODE (Last Updated: January 16, 2015) |
Title 70A. Uniform Commercial Code |
Chapter 8. Uniform Commercial Code - Investment Securities |
Part 4. Registration |
§ 70A-8-402. Assurance that indorsement or instruction is effective.
Latest version.
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(1) An issuer may require the following assurance that each necessary indorsement or each instruction is genuine and authorized: (a) 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; (b) if the indorsement is made or the instruction is originated by an agent, appropriate assurance of actual authority to sign; (c) if the indorsement is made or the instruction is originated by a fiduciary pursuant to Subsection 70A-8-106(1)(d) or (1)(e), appropriate evidence of appointment or incumbency; (d) if there is more than one fiduciary, reasonable assurance that all who are required to sign have done so; and (e) 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. (2) An issuer may elect to require reasonable assurance beyond that specified in this section.
Repealed and Re-enacted by Chapter 204, 1996 General Session