A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a 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.
History: Laws 1991, ch. 177, ยง 3.
Structure New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 8 - Simplification of Fiduciary Security Transfers
Section 46-8-1 - Short (long) title.
Section 46-8-3 - Registration in the name of a fiduciary.
Section 46-8-4 - Assignment by a fiduciary.
Section 46-8-5 - Evidence of appointment or incumbency.
Section 46-8-6 - Adverse claims.
Section 46-8-7 - Non-liability of corporation and transfer agent.
Section 46-8-8 - Non-liability of third persons.