§ 18-11-3. Registration in the name of a fiduciary.
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 a fiduciary with respect to that particular security.
History of Section.P.L. 1959, ch. 85, § 3.
Structure Rhode Island General Laws
Chapter 18-11 - Simplification of Fiduciary Security Transfers
Section 18-11-1. - Short title.
Section 18-11-2. - Definitions.
Section 18-11-3. - Registration in the name of a fiduciary.
Section 18-11-4. - Assignment by a fiduciary.
Section 18-11-5. - Evidence of appointment or incumbency.
Section 18-11-6. - Adverse claims.
Section 18-11-7. - Non-liability of corporation and transfer agent.
Section 18-11-8. - Non-liability of third persons.
Section 18-11-9. - Territorial applicability.