22-5-3 - Registration of security in the name of a fiduciary. - Utah Statutes

22-5-3. Registration of security in the name of a fiduciary.
A corporation or transfer agent registering a security in the name of a person who is afiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent, orcorrect description of the fiduciary relationship, and thereafter the corporation and its transferagent may assume without inquiry that the newly registered owner continues to be the fiduciaryuntil the corporation or transfer agent receives written notice that the fiduciary is no longer actingas such with respect to the particular security.

Enacted by Chapter 46, 1961 General Session