27-6A-4
Section 27-6A-4 Contract requirements. No person, firm, association, or corporation acting
in the capacity of a managing general agent shall place business with an insurer unless there
is in force a written contract between the parties that sets forth the responsibilities of
each party and where both parties share responsibility for a particular function, specifies
the division of such responsibilities, and that contains the following minimum provisions:
(a) The insurer may terminate the contract for cause upon written notice to the managing general
agent. The insurer may suspend the underwriting authority of the managing general agent during
the pendency of any dispute regarding the cause for termination. (b) The managing general
agent shall render accounts to the insurer detailing all transactions and remit all funds
due under the contract to the insurer on not less than a monthly basis. (c) All funds collected
for the account of an insurer will be held by the managing general agent...
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7-9A-406
a default, breach, right of recoupment, claim, defense, termination, right of termination,
or remedy under the account or chattel paper. (g) Subsection (b)(3) not waivable. Subject
to subsection (h), an account debtor may not waive or vary its option under subsection (b)(3).
(h) Rule for individual under other law. This section is subject to law other than this article
which establishes a different rule for an account debtor who is an individual and who incurred
the obligation primarily for personal, family, or household purposes. (i) Inapplicability
to health-care-insurance receivable. This section does not apply to an assignment of a health-care-insurance
receivable. (j) Section prevails over inconsistent law. This section prevails over any inconsistent
provision of an existing or future statute, rule, or regulation of this State unless the provision
is contained in a statute of this State, refers expressly to this section, and states that
the provision prevails over this section....
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8-6-92
Section 8-6-92 Liability of bank, transfer agent, etc., for treating minor as having capacity
to exercise security rights; presumption that holder not minor. (a) A bank, broker, issuer,
third-party or transfer agent incurs no liability by reason of his treating a minor as having
capacity to transfer a security, to receive or to empower others to receive dividends, interest,
principal, or other payments or distributions, to vote or give consent in person or by proxy,
or to make elections or exercise rights relating to the security unless prior to acting in
the transaction the bank, broker, issuer, third-party or transfer agent had received written
notice in the office acting in the transaction that the specific security is held by a minor.
(b) Except as otherwise provided in this article, such a bank, broker, issuer, third-party
or transfer agent may assume without inquiry that the holder of a security is not a minor.
(Acts 1961, No. 1010, p. 1585, §2.)...
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8-6-93
Section 8-6-93 Minor may not disaffirm security transaction unless prior written notice of
minority given. A minor who has transferred a security, received or empowered others to receive
dividends, interest, principal, or other payments or distributions, voted or given consent
in person or by proxy or made an election or exercised rights relating to the security has
no right thereafter, as against a bank, broker, issuer, third-party or transfer agent, to
disaffirm or avoid the transaction unless, prior to acting in the transaction, the bank, broker,
issuer, third-party or transfer agent against whom the transaction is sought to be disaffirmed
or avoided had received written notice in the office acting in the transaction that the specific
security is held by a minor. (Acts 1961, No. 1010, p. 1585, §3.)...
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19-1-4
is indorsed by a fiduciary empowered to indorse such instrument on behalf of his principal,
the indorsee is not bound to inquire whether the fiduciary is committing a breach of his obligation
as fiduciary in indorsing or delivering the instrument, and is not chargeable with notice
that the fiduciary is committing a breach of his obligation as fiduciary unless he takes the
instrument with actual knowledge of such breach or with knowledge of such facts that his action
in taking the instrument amounts to bad faith. If, however, such instrument is transferred
by the fiduciary in payment of or as security for a personal debt of the fiduciary
to the actual knowledge of the creditor, or is transferred in any transaction known by the
transferee to be for the personal benefit of the fiduciary, the creditor or other transferee
is liable to the principal if the fiduciary in fact commits a breach of his obligation as
fiduciary in transferring the instrument. (Acts 1943, No. 557, p. 544, §4.)...
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26-1A-111
Section 26-1A-111 Co-agents and successor agents. (a) A principal may designate two or more
persons to act as co-agents. Unless the power of attorney otherwise provides, each co-agent
may exercise its authority independently. (b) A principal may designate one or more successor
agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve,
or declines to serve. A principal may grant authority to designate one or more successor agents
to an agent or other person designated by name, office, or function. Unless the power of attorney
otherwise provides, a successor agent: (1) has the same authority as that granted to the original
agent; and (2) may not act until all predecessor agents have resigned, died, become incapacitated,
are no longer qualified to serve, or have declined to serve. (c) Except as otherwise provided
in the power of attorney and subsection (d), an agent that does not participate in or conceal
a breach of fiduciary duty committed by another...
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7-3-202
Section 7-3-202 Negotiation subject to rescission. (a) Negotiation is effective even if obtained
(i) from an infant, a corporation exceeding its powers, or a person without capacity, (ii)
by fraud, duress, or mistake, or (iii) in breach of duty or as part of an illegal transaction.
(b) To the extent permitted by other law, negotiation may be rescinded or may be subject to
other remedies, but those remedies may not be asserted against a subsequent holder in due
course or a person paying the instrument in good faith and without knowledge of facts that
are a basis for rescission or other remedy. (Acts 1995, No. 95-668, p. 1381, §1.)...
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26-2A-138
Section 26-2A-138 Who may be appointed conservator; priorities. (a) The court may appoint an
individual or a corporation with general power to serve as trustee or conservator of the estate
of a protected person. The following are entitled to consideration for appointment in the
order listed: (1) A conservator, guardian of property, or other like fiduciary appointed or
recognized by an appropriate court of any other jurisdiction in which the protected person
resides; (2) An individual or corporation nominated by the protected person who is 14 or more
years of age and of sufficient mental capacity to make an intelligent choice; (3) An attorney-in-fact
under a valid durable power of attorney previously executed by the protected person and giving
the attorney-in-fact reasonably broad powers over the property of the protected person; (4)
The spouse of the protected person, or a person nominated by the will of a deceased spouse
to whom the protected person was married at the decedent's death...
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43-2-841
Section 43-2-841 Sale, encumbrance, or transaction involving conflict of interest; voidable;
exceptions. Any sale or encumbrance to the personal representative, the personal
representative's spouse, agent or attorney, or any corporation or trust in which the personal
representative has a substantial beneficial interest, or any transaction which is affected
by a substantial conflict of interest on the part of the personal representative, is
voidable by any person interested in the estate except one who has consented after fair disclosure,
unless: (1) The will or a contract entered into by the decedent expressly authorized the transaction.
(2) The transaction is approved by the court after notice to interested persons. (3) The transaction
is otherwise authorized by law. (Acts 1993, No. 93-722, p. 1411, §12.)...
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5-11A-32
Section 5-11A-32 Notice of transfer. (a) Within 30 days after the date of the transfer of the
fiduciary accounts, the transferor shall send written notice by first class mail to the last
known address (as then set forth on the records of the transferor, or if not set forth, as
may be determined by the transferor in the exercise of reasonable diligence) of the following
persons or entities: (1) For employee benefit plans, to the plan sponsors. (2) For individual
retirement accounts and retirement accounts for the self-employed, to the account owners.
(3) For agency and escrow accounts, to the principals. (4) For securities for which a transferor
bank serves as trustee, registrar, transfer agent or paying agent, to the issuers. (5) For
revocable trusts under agreement, to the settlors. (6) For irrevocable trusts under agreement,
to any co-fiduciary, to the settlor, to each current income beneficiary who is an adult, and
if a current income beneficiary is a minor, to a parent of the minor...
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