2009 Iowa Code
Title 13 - Commerce
Subtitle 5 - Regulation of Commercial Enterprises
CHAPTER 554 - UNIFORM COMMERCIAL CODE
554.8401 - DUTY OF ISSUER TO REGISTER TRANSFER.

        554.8401  DUTY OF ISSUER TO REGISTER TRANSFER.
         1.  If a certificated security in registered form is presented to
      an issuer with a request to register transfer or an instruction is
      presented to an issuer with a request to register transfer of an
      uncertificated security, the issuer shall register the transfer as
      requested if:
         a.  under the terms of the security the person seeking
      registration of transfer is eligible to have the security registered
      in its name;
         b.  the indorsement or instruction is made by the appropriate
      person or by an agent who has actual authority to act on behalf of
      the appropriate person;
         c.  reasonable assurance is given that the indorsement or
      instruction is genuine and authorized (section 554.8402);
         d.  any applicable law relating to the collection of taxes has
      been complied with;
         e.  the transfer does not violate any restriction on transfer
      imposed by the issuer in accordance with section 554.8204;
         f.  a demand that the issuer not register transfer has not
      become effective under section 554.8403, or the issuer has complied
      with section 554.8403, subsection 2, but no legal process or
      indemnity bond is obtained as provided in section 554.8403,
      subsection 4; and
         g.  the transfer is in fact rightful or is to a protected
      purchaser.
         2.  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 unreasonable delay in registration
      or failure or refusal to register the transfer.  

         Section History: Early Form

         [C66, 71, 73, 75, 77, 79, 81, § 554.8401] 

         Section History: Recent Form

         89 Acts, ch 113, § 37; 96 Acts, ch 1138, § 41, 84; 97 Acts, ch 23,
      §72