Sec. 2. A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as fiduciary is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship; and thereafter the corporation and its transfer agent may assume without inquiry that the newly registered owner continues to be the fiduciary until the corporation or transfer agent receives written notice that the fiduciary is no longer acting as such with respect to the particular security.
Formerly: Acts 1961, c.124, s.2.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 5. Uniform Act for the Simplification of Fiduciary Security Transfers
30-2-5-2. Registration in Name of Fiduciary
30-2-5-3. Assignment by Fiduciary
30-2-5-4. Evidence of Appointment or Incumbency
30-2-5-6. Nonliability of Corporation or Transfer Agent
30-2-5-7. Nonliability of Third Persons
30-2-5-8. Territorial Application