2018 Delaware Code
Title 12 - Decedents' Estates and Fiduciary Relations
CHAPTER 43. UNIFORM ACT FOR SIMPLIFICATION OF FIDUCIARY SECURITY TRANSFERS
§ 4303. Assignment by a fiduciary.
Except as otherwise provided in this chapter, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary:
(1) May assume without inquiry that the assignment, even though to the fiduciary or to the fiduciary's nominee, is within the fiduciary's authority and capacity and is not in breach of the fiduciary duties;
(2) May assume without inquiry that the fiduciary has complied with any controlling instrument and with the law of the jurisdiction governing the fiduciary relationship, including any law requiring the fiduciary to obtain court approval of the transfer; and
(3) Is not charged with notice of and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to the fiduciary relationship or the assignment, even though the record or document is in its possession.
12 Del. C. 1953, § 4303; 54 Del. Laws, c. 141; 70 Del Laws, c. 186, § 1.