Colorado Code
Part 4 - Registration
§ 4-8-402. Assurance That Indorsement or Instruction Is Effective

(1) "Guaranty of the signature" means a guaranty signed by or on behalf of a person reasonably believed by the issuer to be responsible. An issuer may adopt standards with respect to responsibility if they are not manifestly unreasonable.
(2) "Appropriate evidence of appointment or incumbency" means:



Source: L. 96: Entire article R&RE, p. 223, § 2, effective July 1.
Editor's note: This section is similar to former § 4-8-402 as it existed prior to 1996.




Subsection (a)(3) authorizes the issuer to require "appropriate evidence" of appointment or incumbency, and subsection (c) indicates what evidence will be "appropriate". In the case of a fiduciary appointed or qualified by a court that evidence will be a court certificate dated within sixty days before the date of presentation, subsection (c)(2)(i). Where the fiduciary is not appointed or qualified by a court, as in the case of a successor trustee, subsection (c)(2)(ii) applies. In that case, the issuer may require a copy of a trust instrument or other document showing the appointment, or it may require the certificate of a responsible person. In the absence of such a document or certificate, it may require other appropriate evidence. If the security is registered in the name of the fiduciary as such, the person's signature is effective even though the person is no longer serving in that capacity, see Section 8-107(d), hence no evidence of incumbency is needed.
Definitional Cross References:
"Appropriate person". Section 8-107
"Genuine". Section 1-201(18)
"Indorsement". Section 8-102(a)(11)
"Instruction". Section 8-102(a)(12)
"Issuer". Section 8-201

Structure Colorado Code