§ 41-42. Registration in beneficiary form; applicable law. - North Carolina Statutes

§ 41‑42.  Registrationin beneficiary form; applicable law.

A security may be registeredin beneficiary form if the form is authorized by this or a similar statute ofthe state of organization of the issuer or registering entity, the location ofthe registering entity's principal office, the office of its transfer agent orits office making the registration, or by this or a similar statute of the lawof the state listed as the owner's address at the time of registration. Aregistration governed by the law of a jurisdiction in which this or similarlegislation is not in force or was not in force when a registration inbeneficiary form was made is nevertheless presumed to be valid and authorizedas a matter of contract law. (2005‑411, s. 1.)