Michigan Compiled Laws § 441.108 Fiduciary Security Transfers; Territorial Application.

441.108 Fiduciary security transfers; territorial application.

Sec. 8.

(a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporation is organized.

(b) This act applies to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this state in connection with the acquisition, disposition, assignment or transfer of a security by or to a fiduciary and of a person who guarantees in this state the signature of a fiduciary in connection with such a transaction.

History: 1959, Act 239, Eff. Mar. 19, 1960

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Last modified: October 10, 2016