Okla. Stat. tit. 12A, § 12A-8-402
This is the official text of Okla. Stat. tit. 12A, § 12A-8-402, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Assurance that Indorsement or Instruction Is Effective
Official statutory text
Assurance that Indorsement or Instruction is Effective.
(a) An issuer may require the following assurance that each
necessary indorsement or each instruction is genuine and authorized:
(1) in all cases, a guaranty of the signature of the
person making an indorsement or originating an
instruction including, in the case of an instruction,
reasonable assurance of identity;
(2) if the indorsement is made or the instruction is
originated by an agent, appropriate assurance of
actual authority to sign;
(3) if the indorsement is made or the instruction is
originated by a fiduciary pursuant to paragraph (4) or
(5) of subsection (a) of Section 8-107 of this title,
appropriate evidence of appointment or incumbency;
(4) if there is more than one fiduciary, reasonable
assurance that all who are required to sign have done
so; and
(5) if the indorsement is made or the instruction is
originated by a person not covered by another
provision of this subsection, assurance appropriate to
the case corresponding as nearly as may be to the
provisions of this subsection.
(b) An issuer may elect to require reasonable assurance beyond
that specified in this section.
(c) In this section:
(1) "Guaranty of the signature" means a guaranty signed by
or on behalf of a person reasonably believed by the
issuer to be responsible. An issuer may adopt
standards with respect to responsibility if they are
not manifestly unreasonable.
(2) "Appropriate evidence of appointment or incumbency"
means:
(i) in the case of a fiduciary appointed or qualified
by a court, a certificate issued by or under the
direction or supervision of the court or an
officer thereof and dated within sixty (60) days
before the date of presentation for transfer; or
(ii) in any other case, a copy of a document showing
the appointment or a certificate issued by or on
behalf of a person reasonably believed by an
issuer to be responsible or, in the absence of
that document or certificate, other evidence the
issuer reasonably considers appropriate.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 446
(a) An issuer may require the following assurance that each
necessary indorsement or each instruction is genuine and authorized:
(1) in all cases, a guaranty of the signature of the
person making an indorsement or originating an
instruction including, in the case of an instruction,
reasonable assurance of identity;
(2) if the indorsement is made or the instruction is
originated by an agent, appropriate assurance of
actual authority to sign;
(3) if the indorsement is made or the instruction is
originated by a fiduciary pursuant to paragraph (4) or
(5) of subsection (a) of Section 8-107 of this title,
appropriate evidence of appointment or incumbency;
(4) if there is more than one fiduciary, reasonable
assurance that all who are required to sign have done
so; and
(5) if the indorsement is made or the instruction is
originated by a person not covered by another
provision of this subsection, assurance appropriate to
the case corresponding as nearly as may be to the
provisions of this subsection.
(b) An issuer may elect to require reasonable assurance beyond
that specified in this section.
(c) In this section:
(1) "Guaranty of the signature" means a guaranty signed by
or on behalf of a person reasonably believed by the
issuer to be responsible. An issuer may adopt
standards with respect to responsibility if they are
not manifestly unreasonable.
(2) "Appropriate evidence of appointment or incumbency"
means:
(i) in the case of a fiduciary appointed or qualified
by a court, a certificate issued by or under the
direction or supervision of the court or an
officer thereof and dated within sixty (60) days
before the date of presentation for transfer; or
(ii) in any other case, a copy of a document showing
the appointment or a certificate issued by or on
behalf of a person reasonably believed by an
issuer to be responsible or, in the absence of
that document or certificate, other evidence the
issuer reasonably considers appropriate.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 446
Status: in_force · Read it on the official government site
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