§ 18-11-5 - Evidence of appointment or incumbency.
SECTION 18-11-5
§ 18-11-5 Evidence of appointment orincumbency. – A corporation or transfer agent making a transfer pursuant to an assignment bya fiduciary who is not the registered owner shall obtain the following evidenceof appointment or incumbency:
(1) In the case of a fiduciary appointed or qualified by acourt, a certificate issued by or under the direction or supervision of thatcourt or its officer and dated within sixty (60) days before the transfer; or
(2) In any other case, a copy of a document showing theappointment or a certificate issued by or on behalf of a person reasonablybelieved by the corporation or transfer agent to be responsible or, in theabsence of that document or certificate, other evidence reasonably deemed bythe corporation or transfer agent to be appropriate. Corporations and transferagents may adopt standards with respect to evidence of appointment orincumbency under this subdivision provided these standards are not manifestlyunreasonable. Neither the corporation nor transfer agent is charged with noticeof the contents of any document obtained pursuant to this subdivision, exceptto the extent that the contents relate directly to the appointment orincumbency.