Maryland Statutes
Subtitle 3 - Maryland Uniform Act for the Simplification of Fiduciary Security Transfers
Section 15-307 - Nonliability of Third Persons

(a)    A person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, shall have the immunity from liability described under § 5-421(b) of the Courts and Judicial Proceedings Article.
    (b)    If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary shall have the immunity from liability described under § 5-421(c) of the Courts and Judicial Proceedings Article.
    (c)    This section and § 5-421 of the Courts and Judicial Proceedings Article do not impose any liability upon the corporation or its transfer agent.

Structure Maryland Statutes