403.270. Assignment by a fiduciary. - Missouri Statutes

Assignment by a fiduciary.

403.270. Except as otherwise provided in sections 403.250 to403.350, a corporation or transfer agent making a transfer of asecurity pursuant to an assignment by a fiduciary:

(1) May assume without inquiry that the assignment, eventhough to the fiduciary himself or to his nominee, is within hisauthority and capacity and is not in breach of his fiduciaryduties;

(2) May assume without inquiry that the fiduciary hascomplied with any controlling instrument and with the law of thejurisdiction governing the fiduciary relationship, including anylaw requiring the fiduciary to obtain court approval of thetransfer; and

(3) Is not charged with notice of and is not bound to obtainor examine any court record or any recorded or unrecordeddocument relating to the fiduciary relationship or theassignment, even though the record or document is in itspossession.

(L. 1959 S.B. 241 § 3)