678.1091 Warranties in indirect holding.—
(1) A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that:
(a) The entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person.
(b) There is no adverse claim to the security entitlement.
(2) A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in s. 678.1081(1) or (2).
(3) If a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the entitlement holder the warranties specified in s. 678.1081(1) or (2).
History.—s. 1, ch. 98-11.
Section: Previous 678.1021 678.1031 678.1041 678.1051 678.1061 678.1071 678.1081 678.1091 678.1101 678.1111 678.1121 678.1131 678.1141 678.1151 678.1161 NextLast modified: September 23, 2016