{"data":{"id":"us-ar/ark.-code-ann.-4-8-401","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-8-401","heading":"Duty of issuer to register transfer.","body":"(a) If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as requested if:\n(1) under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name;\n(2) the indorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on behalf of the appropriate person;\n(3) reasonable assurance is given that the indorsement or instruction is genuine and authorized (§ 4-8-402);\n(4) any applicable law relating to the collection of taxes has been complied with;\n(5) the transfer does not violate any restriction on transfer imposed by the issuer in accordance with § 4-8-204;\n(6) a demand that the issuer not register transfer has not become effective under § 4-8-403, or the issuer has complied with § 4-8-403(b) but no legal process or indemnity bond is obtained as provided in § 4-8-403(d); and\n(7) the transfer is in fact rightful or is to a protected purchaser.\n(b) If an issuer is under a duty to register a transfer of a security, the issuer is liable to a person presenting a certificated security or an instruction for registration or to the person's principal for loss resulting from unreasonable delay in registration or failure or refusal to register the transfer.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 8 Investment Securities","Part 4 — Registration"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"883412188abc2d32ca05442c4d5d937579fbf84a1cb672b84aceac6c136ddda3","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-8-307","next":"us-ar/ark.-code-ann.-4-8-402"},"notice":"GroundRules: Original legal text. Not legal advice."}