Source: L. 96: Entire article R&RE, p. 219, § 2, effective July 1.
Editor's note: This section is similar to former § 4-8-207 as it existed prior to 1996.
The issuer may under this section make distributions of money or securities to the registered owners of securities without requiring further proof of ownership, provided that such distributions are distributable to the owners of all securities of the same issue and the terms of the security do not require surrender of a security certificate as a condition of payment or exchange. Any such distribution shall constitute a defense against a claim for the same distribution by a person, even if that person is in possession of the security certificate and is a protected purchaser of the security. See PEB Commentary No. 4, dated March 10, 1990.
Definitional Cross References:
"Certificated security". Section 8-102(a)(4)
"Instruction". Section 8-102(a)(12)
"Issuer". Section 8-201
"Registered form". Section 8-102(a)(13)
"Security". Section 8-102(a)(15)
"Uncertificated security". Section 8-102(a)(18)
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 8 - Investment Securities
§ 4-8-202. Issuer's Responsibility and Defenses - Notice of Defect or Defense
§ 4-8-203. Staleness as Notice of Defect or Defense
§ 4-8-204. Effect of Issuer's Restriction on Transfer
§ 4-8-205. Effect of Unauthorized Signature on Security Certificate
§ 4-8-206. Completion or Alteration of Security Certificate
§ 4-8-207. Rights and Duties of Issuer With Respect to Registered Owners
§ 4-8-208. Effect of Signature of Authenticating Trustee, Registrar, or Transfer Agent