Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/8-6-75.htm |
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Depth: | 0 singles |
Size: | 1,279 bytes |
Modified: | 1997-09-24 12:00:36 |
Categories: | -None- |
Title: | 8-6-75 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 8-6-75 (Repealed effective January 1, 1997) Assignment by fiduciary. Except as otherwise provided in this article, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary may: Assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and is not in breach of his fiduciary duties; Assume without inquiry that the fiduciary has complied with any controlling instrument and with the law of the jurisdiction governing the fiduciary relationship, including any law requiring the fiduciary to obtain court approval of the transfer; and Not be charged with notice of, and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to, the fiduciary relationship or the assignment even though the record or document is in its possession. (Acts 1961, No. 1016, p. 1593, ยง3.) |