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Can you summarize 66 TNCO Chapter 3, Part 3?
The provided legal document content pertains to the Uniform Fraudulent Transfer Act under the Tennessee Code. This act governs fraudulent conveyances and devises, and it applies to individuals and entities involved in such fraudulent activities. The document does not mention any specific exemptions. Penalties for fraudulent transfers may include avoidance of the transfer, recovery of the transferred property, and other remedies as determined by the court.
Can you summarize NJST Chapter 12A:8?
The legal documents reviewed cover a wide range of topics related to commercial transactions involving securities and financial assets. They provide guidelines and regulations for the effectiveness of indorsements, instructions, and entitlement orders in the transfer of securities or financial assets. The documents also govern adverse claims, control over securities and security entitlements, overissue of securities, delivery of securities to purchasers, liens on certificated securities, warranties in indirect holding of securities, duties and rights of securities intermediaries and entitlement holders, acquisition of securities and financial assets, classification of securities and financial assets, definitions of terms used in commercial transactions, priority of claims among security interests and entitlement holders, property interest of entitlement holders, liability of issuers for wrongful registration of transfer, assurance of genuineness and authorization of indorsements or instructions, duty of issuers to register transfer of securities, duty of transferors to supply necessary requisites for registration, effect of indorsement for security certificates, effect of completion of incomplete instructions, effect of guaranteeing signature, indorsement, or instruction, rights of protected purchasers, and rights of purchasers of limited interests.
Can you summarize WVCO Chapter 46, Article 8?
This legal document, part of the West Virginia Code’s Uniform Commercial Code on Investment Securities, pertains to the provisions related to investment securities. It provides definitions for various terms used in the context of investment securities and clarifies the characterization of a person, business, or transaction for purposes of this article. The document also provides rules for determining whether certain obligations and interests are classified as securities or financial assets. It applies to various entities such as corporations, business trusts, joint stock companies, and similar entities.
Can you summarize MGL Chapter 149, Section 178A?
Section 178A of the Massachusetts General Law governs the payment of wages or salary to an employee who dies intestate. If an employee dies without a will, the employer may pay wages or salary not exceeding one hundred dollars to the surviving husband or wife, adult child, or surviving father or mother of the deceased employee. This payment can only be made if thirty days have passed since the employee’s death and no executor, administrator, or voluntary administrator has demanded payment.
Can you summarize MGL Chapter 149, Section 178C?
This section of the Massachusetts General Law governs the payment of sums owed to the estate of an officer or employee of a political subdivision. If the sum owed does not exceed five hundred dollars and no executor or administrator has made a written demand for payment, the treasurer of the subdivision may, at their discretion, pay the sum to the husband, widow, or next of kin of the deceased officer or employee.
Can you summarize Tex. Bus. & Com. Chapter 24?
The provided legal document content pertains to the Uniform Fraudulent Transfer Act under the Texas Statutes, specifically the Business and Commerce Code. This act governs fraudulent transfers and fraud in relation to insolvency. It defines various terms such as ‘affiliate’, ‘asset’, ‘claim’, ‘creditor’, ‘debt’, ‘debtor’, ‘insider’, ’lien’, ‘person’, ‘property’, ‘relative’, and ’transfer’. The Act applies to debtors, creditors, affiliates, insiders, and managing agents. It establishes rules regarding the treatment of assets, claims, and liabilities in cases of fraudulent transfers.
Can you summarize LAAC Title 10, Part XIII?
The provided legal document content pertains to the regulations governing the registration of securities under the Act. It applies to individuals or entities involved in securities registration and related activities. The document provides definitions for various terms used in the regulation or in the form for registration related to securities. It also outlines the requirements for the application for registration, including the form to be used, filing deadlines, and the required number of copies.
Can you summarize MNST 336.8-101?
336.8-101 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-101 SHORT TITLE. This article may be cited as Uniform Commercial Code - Investment Securities. History: 1965 c 811 s 336.8-101; 1995 c 194 art 1 s 1
Can you summarize MNST 336.8-102?
This legal document, known as the Uniform Commercial Code, specifically Article 8-102, provides definitions for terms used in the article. It governs the rules and regulations related to financial assets and securities intermediaries. The document defines various terms such as ‘adverse claim,’ ‘bearer form,’ ‘broker,’ ‘certificated security,’ ‘clearing corporation,’ ‘communicate,’ ’entitlement holder,’ ’entitlement order,’ ‘financial asset,’ ’endorsement,’ ‘instruction,’ ‘registered form,’ ‘securities intermediary,’ ‘security,’ ‘security certificate,’ ‘security entitlement,’ and ‘uncertificated security.’ The definitions provided in this document are applicable throughout the article.
Can you summarize MNST 336.8-103?
This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, provides rules for determining whether certain obligations and interests are classified as securities or financial assets. It states that shares or similar equity interests issued by corporations, business trusts, joint stock companies, or similar entities are considered securities. Investment company securities, which include shares or similar equity interests issued by registered investment companies, are also classified as securities.
Can you summarize MNST 336.8-104?
This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the acquisition of securities or financial assets. It outlines the conditions under which a person can acquire a security or an interest therein, either by being a purchaser to whom a security is delivered or by acquiring a security entitlement. It also covers the acquisition of financial assets through a security entitlement. The document specifies the rights of a person who acquires a security entitlement, but clarifies that they are only a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary to the extent provided in section 336.
Can you summarize MNST 336.8-105?
This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, specifically addresses the concept of ‘Notice of Adverse Claim’. It outlines the circumstances under which a person can be considered to have notice of an adverse claim. These circumstances include having actual knowledge of the adverse claim, being aware of facts that indicate a significant probability of the adverse claim’s existence and deliberately avoiding information, or having a duty to investigate the existence of an adverse claim.
Can you summarize MNST 336.8-106?
This legal document, Minnesota Statutes 336.8-106, governs the concept of ‘control’ in relation to certificated and uncertificated securities. It outlines the conditions under which a purchaser has control over a certificated security in bearer form, registered form, or an uncertificated security. The document also specifies the requirements for control of a security entitlement. It further clarifies that if an interest in a security entitlement is granted by the entitlement holder to their own securities intermediary, the securities intermediary has control.
Can you summarize MNST 336.8-107?
This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, specifically addresses the effectiveness of endorsement, instruction, or entitlement orders in relation to securities and financial assets. It defines the ‘appropriate person’ who is entitled to the security or financial asset and outlines the conditions under which an endorsement, instruction, or entitlement order is considered effective. The document also states that an endorsement, instruction, or entitlement order made by a representative remains effective even if the representative fails to comply with a controlling instrument or breaches their duty.
Can you summarize MNST 336.8-108?
This legal document, governed by the Uniform Commercial Code under the Trade Regulations and Consumer Protection in Minnesota Statutes, outlines the warranties associated with the transfer and endorsement of certificated and uncertificated securities. The document specifies the warranties that a transferor or endorser provides to the purchaser, including the genuineness and non-alteration of the certificate, absence of adverse claims, compliance with transfer restrictions, and the effectiveness and rightful nature of the transfer.
Can you summarize MNST 336.8-109?
This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the warranties in indirect holding of securities. It outlines the obligations and warranties that apply to various parties involved in securities transactions. The document specifies that a person originating an entitlement order to a securities intermediary warrants that the order is made by an appropriate person and that there is no adverse claim to the security entitlement.
Can you summarize MNST 336.8-110?
This legal document, part of the Minnesota Statutes under the Trade Regulations and Consumer Protection section, specifically the Uniform Commercial Code, addresses the applicability and choice of law for different aspects related to securities and security entitlements. It establishes that the local law of the issuer’s jurisdiction governs the validity of a security, rights and duties of the issuer with respect to registration of transfer, effectiveness of registration of transfer, duties to an adverse claimant, and whether an adverse claim can be asserted against a person to whom transfer of a certificated or uncertificated security is registered or a person who obtains control of an uncertificated security.
Can you summarize MNST 336.8-111?
A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective even if the rule conflicts with this chapter and affects another party who does not consent to the rule. History: 1995 c 194 art 1 s 11
Can you summarize MNST 336.8-112?
This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, outlines the process by which a creditor can reach the interest of a debtor in different types of securities. The document specifies that the interest of a debtor in a certificated security can only be reached by actual seizure of the security certificate, unless the certificate has been surrendered to the issuer. For an uncertificated security, the creditor can reach the debtor’s interest through legal process upon the issuer.
Can you summarize MNST 336.8-113?
A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making. History: 1995 c 194 art 1 s 13
Can you summarize MNST 336.8-114?
The following rules apply in an action on a certificated security against the issuer: (1) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary endorsement is admitted. (2) If the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized. (3) If signatures on a security certificate are admitted or established, production of the certificate entitles a holder to recover on it unless the defendant establishes a defense or a defect going to the validity of the security.
Can you summarize MNST 336.8-115?
A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee that has dealt with a financial asset at the direction of its customer or principal, is not liable to a person having an adverse claim to the financial asset, unless the securities intermediary, or broker or other agent or bailee: (1) took the action after it had been served with an injunction, restraining order, or other legal process enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable opportunity to act on the injunction, restraining order, or other legal process; or (2) acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or (3) in the case of a security certificate that has been stolen, acted with notice of the adverse claim.
Can you summarize MNST 336.8-116?
A securities intermediary that receives a financial asset and establishes a security entitlement to the financial asset in favor of an entitlement holder is a purchaser for value of the financial asset. A securities intermediary that acquires a security entitlement to a financial asset from another securities intermediary acquires the security entitlement for value if the securities intermediary acquiring the security entitlement establishes a security entitlement to the financial asset in favor of an entitlement holder.
Can you summarize MNST 336.8-201?
This legal document, Minnesota Statutes » TRADE REGULATIONS, CONSUMER PROTECTION » UNIFORM COMMERCIAL CODE 336.8-201, defines the term ‘issuer’ in relation to obligations and defenses related to securities. An ‘issuer’ includes a person who places or authorizes the placing of its name on a security certificate, creates an uncertificated security, creates a fractional interest represented by a security certificate, or becomes responsible for another person described as an issuer. Additionally, a guarantor is considered an issuer to the extent of its guaranty.
Can you summarize MNST 336.8-203?
This provision, part of the Minnesota Statutes under the Uniform Commercial Code, applies to purchasers of certificated securities. It states that after an act or event creating a right to immediate performance or setting a date for redemption or exchange, a purchaser is charged with notice of any defect in the security’s issue or defense of the issuer if certain conditions are met. These conditions include the payment or delivery of the security on the specified date, and the purchaser taking the security more than one or two years after the specified date, depending on the circumstances.
Can you summarize MNST 336.8-204?
336.8-204 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-204 EFFECT OF ISSUER’S RESTRICTION ON TRANSFER. A restriction on transfer of a security imposed by the issuer, even if otherwise lawful, is ineffective against a person without knowledge of the restriction unless: (1) the security is certificated and the restriction is noted conspicuously on the security certificate; or (2) the security is uncertificated and the registered owner has been notified of the restriction.
Can you summarize MNST 336.8-205?
336.8-205 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-205 EFFECT OF UNAUTHORIZED SIGNATURE ON SECURITY CERTIFICATE. An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor of a purchaser for value of the certificated security if the purchaser is without notice of the lack of authority and the signing has been done by: (1) an authenticating trustee, registrar, transfer agent, or other person entrusted by the issuer with the signing of the security certificate or of similar security certificates, or the immediate preparation for signing of any of them; or (2) an employee of the issuer, or of any of the persons listed in paragraph (1), entrusted with responsible handling of the security certificate.
Can you summarize MNST 336.8-206?
336.8-206 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-206 COMPLETION OR ALTERATION OF SECURITY CERTIFICATE. (a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect: (1) any person may complete it by filling in the blanks as authorized; and (2) even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.
Can you summarize MNST 336.8-207?
336.8-207 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-207 RIGHTS AND DUTIES OF ISSUER WITH RESPECT TO REGISTERED OWNERS. (a) Before due presentment for registration of transfer of a certificated security in registered form or of an instruction requesting registration of transfer of an uncertificated security, the issuer or indenture trustee may treat the registered owner as the person exclusively entitled to vote, receive notifications, and otherwise exercise all the rights and power of an owner.
Can you summarize MNST 336.8-208?
336.8-208 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-208 EFFECT OF SIGNATURE OF AUTHENTICATING TRUSTEE, REGISTRAR, OR TRANSFER AGENT. (a) A person signing a security certificate as authenticating trustee, registrar, transfer agent, or the like, warrants to a purchaser for value of the certificated security, if the purchaser is without notice of a particular defect, that: (1) the certificate is genuine; (2) the person’s own participation in the issue of the security is within the person’s capacity and within the scope of the authority received by the person from the issuer; and (3) the person has reasonable grounds to believe that the certificated security is in the form and within the amount the issuer is authorized to issue.
Can you summarize MNST 336.8-209?
A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate. History: 1995 c 194 art 1 s 25
Can you summarize MNST 336.8-210?
This legal document pertains to the overissue of securities. It defines overissue as the issuance of securities in excess of the amount the issuer has the power to issue, unless appropriate action has cured the overissue. The provisions of this document validate or compel the issue or reissue of securities, but they do not apply if it would result in overissue. If an identical security that is not an overissue is reasonably available for purchase, a person entitled to issue or validation may compel the issuer to purchase and deliver it against surrender of any security certificate held.
Can you summarize MNST 336.8-301?
This legal document, which is a part of the Minnesota Statutes under the Trade Regulations and Consumer Protection section, specifically the Uniform Commercial Code, discusses the concept of delivery of certificated and uncertificated securities to purchasers. It outlines the various scenarios in which delivery occurs for both types of securities. For certificated securities, delivery occurs when the purchaser acquires possession of the security certificate, another person acquires possession on behalf of the purchaser, or a securities intermediary acquires possession on behalf of the purchaser under certain conditions.
Can you summarize MNST 336.8-302?
336.8-302 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-302 RIGHTS OF PURCHASER. (a) Except as otherwise provided in subsections (b) and (c), a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer. (b) A purchaser of a limited interest acquires rights only to the extent of the interest purchased. (c) A purchaser of a certificated security who as a previous holder had notice of an adverse claim does not improve its position by taking from a protected purchaser.
Can you summarize MNST 336.8-303?
336.8-303 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-303 PROTECTED PURCHASER. (a) ‘Protected purchaser’ means a purchaser of a certificated or uncertificated security, or of an interest therein, who: (1) gives value; (2) does not have notice of any adverse claim to the security; and (3) obtains control of the certificated or uncertificated security. (b) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.
Can you summarize MNST 336.8-304?
This legal document, Minnesota Statutes 336.8-304, governs the endorsement of securities. It specifies that an endorsement may be in blank or special, with a blank endorsement including an endorsement to bearer. A special endorsement specifies the transferee or the person with the power to transfer the security. A holder can convert a blank endorsement to a special endorsement. The document also states that an endorsement, whether special or in blank, does not constitute a transfer until the delivery of the certificate on which it appears or, if the endorsement is on a separate document, until the delivery of both the document and the certificate.
Can you summarize MNST 336.8-305?
336.8-305 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-305 INSTRUCTION. (a) If an instruction has been originated by an appropriate person but is incomplete in any other respect, any person may complete it as authorized and the issuer may rely on it as completed, even though it has been completed incorrectly. (b) Unless otherwise agreed, a person initiating an instruction assumes only the obligations imposed by section 336.
Can you summarize MNST 336.8-307?
336.8-307 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-307 PURCHASER’S RIGHT TO REQUISITES FOR REGISTRATION OF TRANSFER. Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any other requisite necessary to obtain registration of the transfer of the security, but if the transfer is not for value, a transferor need not comply unless the purchaser pays the necessary expenses.
Can you summarize MNST 336.8-308?
336.8-308 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-309?
336.8-309 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-310?
336.8-310 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-311?
336.8-311 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-312?
336.8-312 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-313?
336.8-313 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-314?
336.8-314 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-315?
336.8-315 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-316?
336.8-316 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-317?
336.8-317 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-318?
336.8-318 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-319?
336.8-319 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-320?
336.8-320 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-321?
336.8-321 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-401?
This provision, part of the Minnesota Statutes under the Uniform Commercial Code, governs the duty of an issuer to register the transfer of a certificated security or an instruction for registration of an uncertificated security. The issuer is required to register the transfer if certain conditions are met, including eligibility of the person seeking registration, proper endorsement or instruction, assurance of genuineness and authorization, compliance with tax laws, absence of transfer restrictions imposed by the issuer, absence of effective demand to not register transfer, and rightful transfer or transfer to a protected purchaser.
Can you summarize MNST 336.8-402?
This legal provision, under the Minnesota Statutes, specifically under the Uniform Commercial Code, governs the assurance required by issuers to ensure that each necessary endorsement of each instruction is genuine and authorized. The issuer may require various assurances, including a guaranty of the signature of the person making an endorsement or originating an instruction, reasonable assurance of identity in the case of an instruction, appropriate assurance of actual authority to sign if the endorsement is made or the instruction is originated by an agent, and appropriate evidence of appointment or incumbency if the endorsement is made or the instruction is originated by a fiduciary.
Can you summarize MNST 336.8-404?
This legal document, governed by the Minnesota Statutes under the Trade Regulations and Consumer Protection section of the Uniform Commercial Code, addresses the issue of wrongful registration of transfer of securities. According to the document, an issuer is liable for wrongful registration if they register a transfer of a security to a person not entitled to it under certain circumstances. These circumstances include an ineffective endorsement or instruction, non-compliance with a demand to not register transfer, registration after being served with an injunction or restraining order, or collusion with the wrongdoer.
Can you summarize MNST 336.8-405?
This legal provision, found in the Minnesota Statutes under the Trade Regulations and Consumer Protection section of the Uniform Commercial Code, governs the process for replacing lost, destroyed, or wrongfully taken security certificates. It applies to owners of certificated securities, whether in registered or bearer form. If an owner claims that their certificate has been lost, destroyed, or wrongfully taken, the issuer is required to issue a new certificate under certain conditions.
Can you summarize MNST 336.8-406?
336.8-406 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-406 OBLIGATION TO NOTIFY ISSUER OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE. If a security certificate has been lost, apparently destroyed, or wrongfully taken, and the owner fails to notify the issuer of that fact within a reasonable time after the owner has notice of it and the issuer registers a transfer of the security before receiving notification, the owner may not assert against the issuer a claim for registering the transfer under section 336.
Can you summarize MNST 336.8-407?
336.8-407 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-407 AUTHENTICATING TRUSTEE, TRANSFER AGENT, AND REGISTRAR. A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its securities, in the issue of new security certificates or uncertificated securities, or in the cancellation of surrendered security certificates has the same obligation to the holder or owner of a certificated or uncertificated security with regard to the particular functions performed as the issuer has in regard to those functions.
Can you summarize MNST 336.8-408?
336.8-408 [Repealed, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-501?
This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs securities accounts and the acquisition of security entitlement from securities intermediaries. A securities account refers to an account where a financial asset is credited, and the account holder is treated as entitled to exercise the rights associated with the financial asset. A person acquires a security entitlement if a securities intermediary indicates the credit of a financial asset to their securities account, receives a financial asset from the person for credit to their securities account, or becomes obligated to credit a financial asset to the person’s securities account under other laws or regulations.
Can you summarize MNST 336.8-502?
An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who acquires a security entitlement under section 336.8-501 for value and without notice of the adverse claim. History: 1995 c 194 art 1 s 42
Can you summarize MNST 336.8-503?
This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the property interest of entitlement holders in financial assets held by securities intermediaries. It states that all interests in a financial asset held by a securities intermediary are held for the entitlement holders and are not the property of the securities intermediary. These interests are not subject to claims of creditors of the securities intermediary, except as provided in section 336.
Can you summarize MNST 336.8-504?
This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the duty of securities intermediaries to promptly obtain and maintain a financial asset corresponding to the aggregate of all security entitlements established in favor of its entitlement holders. Securities intermediaries are allowed to maintain these financial assets directly or through other intermediaries. However, they are prohibited from granting any security interests in the financial asset they are obligated to maintain, unless otherwise agreed upon by the entitlement holder.
Can you summarize MNST 336.8-505?
(a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if: (1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or (2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution.
Can you summarize MNST 336.8-506?
A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. A securities intermediary satisfies the duty if: (1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or (2) in the absence of agreement, the securities intermediary either places the entitlement holder in a position to exercise the rights directly or exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.
Can you summarize MNST 336.8-507?
This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the duty of securities intermediaries to comply with entitlement orders. It requires securities intermediaries to comply with an entitlement order if it is originated by the appropriate person, genuine, and authorized. The securities intermediary must act as agreed upon by the entitlement holder and themselves or exercise due care in accordance with reasonable commercial standards. If a securities intermediary transfers a financial asset based on an ineffective entitlement order, they must reestablish a security entitlement in favor of the entitled person and compensate for any payments or distributions not received due to the wrongful transfer.
Can you summarize MNST 336.8-508?
A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if: (1) the securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or (2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.
Can you summarize MNST 336.8-509?
This legal document, specified under the Minnesota Statutes, TRADE REGULATIONS, CONSUMER PROTECTION, UNIFORM COMMERCIAL CODE, outlines the duties of a securities intermediary and the exercise of rights of an entitlement holder. It states that if a duty imposed on a securities intermediary is covered by another statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty. In cases where specific standards for performance or exercise of rights are not specified elsewhere, the securities intermediary and entitlement holder must act in a commercially reasonable manner.
Can you summarize MNST 336.8-511?
This provision, found in the Minnesota Statutes under the Uniform Commercial Code, governs the priority of claims among securities intermediaries, entitlement holders, and creditors. Generally, if a securities intermediary does not have sufficient interests in a financial asset to satisfy both its obligations to entitlement holders and its obligation to a creditor with a security interest in that asset, the claims of entitlement holders take priority over the claim of the creditor.
Can you summarize MNST 336.8-601?
Laws 1995, chapter 194, takes effect January 1, 1996. History: 1995 c 194 art 1 s 52
Can you summarize MNST 336.8-602?
336.8-602 MS 2006 [Obsolete, 1995 c 194 art 1 s 53]
Can you summarize MNST 336.8-603?
This provision, part of the Minnesota Statutes governing the Uniform Commercial Code, states that Laws 1995, chapter 194, does not affect actions or proceedings commenced before January 1, 1996. It also provides guidance on the perfection of security interests in securities. If a security interest is perfected on December 31, 1995, and the action used for perfection would suffice under Laws 1996, chapter 361, no further action is required. If the action would not suffice, the security interest remains perfected until December 31, 1996, as long as it could have remained perfected under the law in effect on December 31, 1995.
Can you summarize CORS 8-4-109?
This legal document, part of the Colorado Revised Statutes, governs the termination of employment and the payments required in such cases. It outlines the obligations of employers to pay wages or compensation to employees upon termination, whether by volition of the employer or resignation by the employee. The document specifies the timeframes within which the wages or compensation should be made available to the separated employee and the locations where the payment should be delivered.
Can you summarize 19 DECO 1106?
(a) In the event of the death of an employee the wages due the employee by an employer not in excess of $300 may, upon proper demand, be paid in the absence of actual notice of the pendency of probate proceedings without requiring letters testamentary or of administration in the following order of preference to decedents: (1) Surviving children under 21 years of age, to the parent, guardian or other person having custody of such child, in equal shares; (2) Surviving spouse; (3) Surviving children 21 years of age and over, in equal shares; (4) Parents, in equal shares or survivor.
Can you summarize DCCO Title 31, Chapter 56?
This chapter of the Code of the District of Columbia governs securities and related activities. It applies to individuals and entities involved in the sale, purchase, or offer of securities, including broker-dealers, agents, issuers, and investment advisers. The chapter defines various terms used in the chapter and provides exemptions for certain transactions, securities, and individuals representing issuers.
Can you summarize 9 VTST Chapter 57, Subchapter 1?
This section of the Vermont Statutes, under the Commerce and Trade category, governs the remedies available to a creditor in an action for relief against a transfer or obligation. It outlines the various remedies that a creditor may obtain, including avoidance of the transfer or obligation, attachment or provisional remedy against the asset transferred or other property of the transferee, injunction against further disposition by the debtor or transferee, appointment of a receiver, or any other relief as required by the circumstances.
Can you summarize HIRS 388-4?
Where an employee dies leaving any wages, vacation, or
sick leave pay due the employee, the employer shall, within thirty days after
such death, whether or not a personal representative has been appointed, pay
the wages, vacation, or sick leave pay in an amount not exceeding $2,000 to,
and upon application by the surviving spouse or reciprocal beneficiary or, if
none, by an adult child. The employer shall require the applicant to show
proof of his or her relationship to the deceased by affidavit and to acknowledge
receipt of the payment in writing.
Can you summarize GACO 34-7-4?
This legal document, as per the Georgia Code, governs the payment of outstanding wages to beneficiaries upon the death of an employee. If the deceased employee had wages or other moneys due from their employer, the employer is allowed to pay all such sums, up to $2,500. If the sums exceed $2,500, the employer can pay a fixed amount of $2,500. The payment is made to the surviving spouse of the employee, or if there is no surviving spouse, to the duly qualified guardian of the minor child or children.