Registration in beneficiary form; applicable law
Sec. 8. (a) A security may be registered in beneficiary form if the
form is authorized by this or a similar statute of:
(1) the state of:
(A) organization of the issuer or registering entity;
(B) the location of the registering entity's principal office; or
(C) the office of its transfer agent or its office making the
registration; or
(2) the state listed as the owner's address at the time of
registration.
(b) Notwithstanding subsection (a), a registration governed by the
law of a jurisdiction in which this or similar legislation:
(1) is not in force; or
(2) was not in force when a registration in beneficiary form was
made;
is presumed to be valid and authorized as a matter of contract law.
As added by P.L.2-2002, SEC.2.
Last modified: May 24, 2006