{"data":{"id":"us-mi/mich.-comp.-laws-440.8401","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.8401","heading":"Registration of transfer; duty and liability of issuer.","body":"Sec. 8401.\n\nIf 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\nUnder the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name.\n\nThe 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\nReasonable assurance is given that the indorsement or instruction is genuine and authorized in accordance with section 8402.\n\nAny applicable law relating to the collection of taxes has been complied with.\n\nThe transfer does not violate any restriction on transfer imposed by the issuer in accordance with section 8204.\n\nA demand that the issuer not register transfer has not become effective under section 8403, or the issuer has complied with section 8403(2) but no legal process or indemnity bond is obtained as provided in section 8403(4).\n\nThe transfer is in fact rightful or is to a protected purchaser.\n\nIf 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":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-8401","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"5e3c4641494ccf76d4ee57b42224442c2ed20a004e96b8bb0306e4d73cde6c25","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.8307","next":"us-mi/mich.-comp.-laws-440.8402"},"notice":"GroundRules: Original legal text. Not legal advice."}