- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 8. Investment Securities
- Section 401. Duty of Issuer to Register Transfer.
previous: Section 308
. - 45.08.321l [Repealed, Sec. 68 Ch 17 SLA 1996].
next: Section 402
. Assurance That Endorsements and Instructions Are Effective.
AS 45.08.401. Duty of Issuer to Register Transfer.
- (a) 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
- (1) under the terms of the security the person seeking registration of transfer is eligible to have the security
registered in the person's name;
- (2) the endorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on
behalf of the appropriate person;
- (3) reasonable assurance is given under AS 45.08.402
that the endorsement or instruction is genuine and authorized;
- (4) applicable law relating to the collection of taxes has been complied with;
- (5) the transfer does not violate a restriction on transfer imposed by the issuer under AS 45.08.204
- (6) a demand that the issuer not register transfer has not become effective under AS 45.08.403
, or the issuer has complied with AS 45.08.403(b) but
legal process or indemnity bond is not obtained under AS 45.08.403
- (7) the transfer is in fact rightful or is to a protected purchaser.
- (b) 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 an
unreasonable delay in registration or failure or refusal to register the transfer.
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