The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 8-401)
-
§ 8—401. Duty of issuer to register transfer
(a) If a certificated security in registered form is presented to an issuer with a request
to register transfer or an instruction is presented to an issuer with a request to
register transfer of an uncertificated security, the issuer shall register the transfer
as requested if:
(1) under the terms of the security the person seeking registration of transfer is eligible
to have the security registered in its name;
(2) the indorsement or instruction is made by the appropriate person or by an agent who
has actual authority to act on behalf of the appropriate person;
(3) reasonable assurance is given that the indorsement or instruction is genuine and authorized
(section 8—402 of this title);
(4) any applicable law relating to the collection of taxes has been complied with;
(5) the transfer does not violate any restriction on transfer imposed by the issuer in
accordance with section 8—204 of this title;
(6) a demand that the issuer not register transfer has not become effective under section 8—403 of this title, or the issuer has complied with subsection 8—403(b) of this title but no legal process or indemnity bond is obtained as provided in subsection 8—403(d) of this title; and
(7) the transfer is in fact rightful or is to a protected purchaser.
(b) If an issuer is under a duty to register a transfer of a security, the issuer is liable
to a person presenting a certificated security or an instruction for registration
or to the person’s principal for loss resulting from unreasonable delay in registration
or failure or refusal to register the transfer. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)