TITLE 68

TRUSTS AND FIDUCIARIES

CHAPTER 9

SIMPLIFICATION OF FIDUCIARY SECURITY TRANSFERS

68-901.  Definitions. In this act, unless the context otherwise requires:

(a)  "Assignment" includes any written stock power, bond power, bill of sale, deed, declaration of trust, or other instrument of transfer.

(b)  "Claim of beneficial interest" includes a claim of any interest by a decedent’s legatee, distributee, heir, or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee, or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person on his behalf, and includes a claim that the transfer would be in breach of fiduciary duties.

(c)  "Corporation" means a private or public corporation, association or trust issuing a security.

(d)  "Fiduciary" means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian, or nominee.

(e)  "Person" includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two (2) or more persons having a joint or common interest, or any other legal or commercial entity.

(f)  "Security" includes any share of stock, bond, debenture, note, or other security issued by a corporation which is registered as to ownership on the books of the corporation.

(g)  "Transfer" means a change on the books of a corporation in the registered ownership of a security.

(h)  "Transfer agent" means a person employed or authorized by a corporation to transfer securities issued by the corporation.

History:

[68-901, added 1959, ch. 136, sec. 1, p. 294.]