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§ 15-307. Liability of third persons

West's Annotated Code of MarylandEstates and Trusts

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 15. Fiduciaries (Refs & Annos)
Subtitle 3. Maryland Uniform Act for the Simplification of Fiduciary Security Transfers (Refs & Annos)
MD Code, Estates and Trusts, § 15-307
§ 15-307. Liability of third persons
Currentness
Persons participating in acquisition, disposition, assignment or transfer of security
(a) A person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, shall have the immunity from liability described under § 5-421(b) of the Courts and Judicial Proceedings Article.
Corporations or transfer agents making transfer pursuant to assignment by fiduciary
(b) If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary shall have the immunity from liability described under § 5-421(c) of the Courts and Judicial Proceedings Article.
Corporations or transfer agents
(c) This section and § 5-421 of the Courts and Judicial Proceedings Article do not impose any liability upon the corporation or its transfer agent.

Credits

Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 1990, c. 546, § 3; Acts 1997, c. 14, § 20, eff. April 8, 1997.
Formerly Art. 37A, § 21.
MD Code, Estates and Trusts, § 15-307, MD EST & TRST § 15-307
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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