2009 Kentucky Revised Statutes
Article 8 Investment Securities
355.8.109 Warranties in indirect holding.
(a) 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 (b) There is no adverse claim to the security entitlement. (2) 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 KRS 355.8-108(1)
or (2). (3) 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 KRS 355.8-108(1) or (2). Effective: January 1, 1997
History: Created 1996 Ky. Acts ch. 130, sec. 122, effective January 1, 1997.
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