Colorado Code
Part 1 - Short Title and General Matters
§ 4-8-108. Warranties in Direct Holding

(1) The instruction is made by an appropriate person, or if the instruction is by an agent, the agent has actual authority to act on behalf of the appropriate person;
(2) The security is valid;
(3) There is no adverse claim to the security; and
(4) At the time the instruction is presented to the issuer:





(1) The uncertificated security is valid;
(2) There is no adverse claim to the security;
(3) The transfer does not violate any restriction on transfer; and
(4) The transfer is otherwise effective and rightful.

(1) There is no adverse claim to the security; and
(2) The indorsement is effective.

(1) The instruction is effective; and
(2) At the time the instruction is presented to the issuer the purchaser will be entitled to the registration of transfer.





Source: L. 96: Entire article R&RE, p. 210, § 2, effective July 1.
Editor's note: This section is similar to former § 4-8-306 as it existed prior to 1996.





Definitional Cross References:
"Adverse claim". Section 8-102(a)(1)
"Appropriate person". Section 8-107
"Broker". Section 8-102(a)(3)
"Certificated security". Section 8-102(a)(4)
"Indorsement". Section 8-102(a)(11)
"Instruction". Section 8-102(a)(12)
"Issuer". Section 8-201
"Person". Section 1-201(30)
"Purchaser". Sections 1-201(33) & 8-116
"Secured party". Section 9-105(1)(m)
"Security". Section 8-102(a)(15)
"Security certificate". Section 8-102(a)(16)
"Uncertificated security". Section 8-102(a)(18)
"Value". Sections 1-201(44) & 8-116

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