- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 8. Investment Securities
- Section 109. Warranties in Indirect Holding.
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. Warranties in Direct Holding.
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. Applicability; Choice of Law.
AS 45.08.109. Warranties in Indirect Holding.
- (a) A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that
- (1) the entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has
actual authority to act on behalf of the appropriate person; and
- (2) there is no adverse claim to the security entitlement.
- (b) A person who delivers a security certificate to a securities intermediary for credit to a securities account or
originates an instruction with respect to an uncertificated security directing that the uncertificated security be
credited to a securities account makes to the securities intermediary the warranties specified in AS 45.08.108(a) or (b).
- (c) If a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement
holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the
entitlement holder the warranties specified in AS 45.08.108
(a) or (b).
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