N.Y. Uniform Commercial Code Law § 8-407: Authenticating Trustee, Transfer Agent, and Registrar

Section 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.