Sec. 8.
(a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporation is organized.
(b) This act applies to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this state in connection with the acquisition, disposition, assignment or transfer of a security by or to a fiduciary and of a person who guarantees in this state the signature of a fiduciary in connection with such a transaction.
History: 1959, Act 239, Eff. Mar. 19, 1960
Structure Michigan Compiled Laws
Chapter 441 - Fiduciary Security Transfers
Section 441.101 - Uniform Fiduciary Security Transfer Simplification Act; Definitions.
Section 441.102 - Fiduciary Security Transfers; Registration.
Section 441.103 - Fiduciary Security Transfers; Assignment by Fiduciary.
Section 441.104 - Fiduciary Security Transfers; Evidence of Appointment or Incumbency.
Section 441.105 - Fiduciary Security Transfers; Adverse Claims.
Section 441.106 - Fiduciary Security Transfers; Corporation or Transfer Agent, Nonliability.
Section 441.107 - Fiduciary Security Transfers; Third Persons, Nonliability.
Section 441.108 - Fiduciary Security Transfers; Territorial Application.
Section 441.109 - Fiduciary Security Transfers; Tax Obligations.
Section 441.110 - Construction of Act.
Section 441.111 - Uniform Act for the Simplification of Fiduciary Security Transfers; Short Title.