T-11.002 - Act respecting the transfer of securities and the establishment of security entitlements

Article 85 Versions de la disposition

2009-01-01

85. If an endorsed security certificate in registered form is presented to an issuer with a request to register a transfer of the certificated security or an instruction is presented to an issuer with a request to register a transfer of an uncertificated security, the issuer registers the transfer as requested if

1°  under the terms of the security, the purchaser is eligible to have the security registered in that person’s name;

2°  the endorsement or instruction is made by the appropriate person or by that person’s representative;

3°  reasonable assurance is given that the endorsement or instruction is neither forged nor counterfeited and is authorized;

4°  any applicable fiscal law that imposes duties on the issuer at the time of the transfer has been complied with;

5°  the transfer does not violate any restriction on transfer imposed by the issuer that is enforceable against the purchaser or imposed by law; and

6°  the transfer is rightful or is to a protected purchaser.

2008, c. 20, s. 85.