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.)

Last modified: May 27, 2006