{"data":{"id":"us-ky/krs-355.8-401","jurisdiction":"us-ky","citation":"KRS 355.8-401","heading":"Duty of issuer to register transfer.","body":"(1) If a certificated security in registered form is presented to an issuer with a request to\nregister transfer or an instruction is presented to an issuer with a request to register\ntransfer of an uncertificated security, the issuer shall register the transfe r as\nrequested if:\n(a) Under the terms of the security the person seeking registration of transfer is\neligible to have the security registered in its name;\n(b) The indorsement or instruction is made by the appropriate person or by an\nagent who has actual authority to act on behalf of the appropriate person;\n(c) Reasonable assurance is given that the indorsement or instruction is genuine\nand authorized (KRS 355.8-402);\n(d) Any applicable law relating to the collection of taxes has been complied with;\n(e) The transfer does not violate any restriction on transfer imposed by the issuer\nin accordance with KRS 355.8-204;\n(f) A demand that the issuer not register transfer has not become effective under\nKRS 355.8 -403, or the issuer has complied with KRS 355.8 -403(2) but no\nlegal process or indemnity bond is obtained as provided in KRS 355.8-403(4);\nand\n(g) The transfer is in fact rightful or is to a protected purchaser.\n(2) If an issuer is under a duty to register a transfer of a security, the issuer is liable to a\nperson presenting a certificated security or an instruction for registration or to the\nperson's principal for loss resulting from unreasonable delay in registration or\nfailure or refusal to register the transfer.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33709","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:47Z","sha256":"9406023577b5d70a09a5ab6462d15d291bf3ad5084797cb027b855460db44d67","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.8-321","next":"us-ky/krs-355.8-402"},"notice":"GroundRules: Original legal text. Not legal advice."}