LegalFix
Sign In

Section 45-6-303 - Registration in beneficiary form; applicable law.

NM Stat § 45-6-303 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of its transfer agent or its office making the registration or by this or a similar statute of the law of the state listed as the owner's address at the time of registration. A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.

History: 1978 Comp., § 45-6-303, enacted by Laws 1992, ch. 66, § 39.

Previous Section
Section 45-6-302 - Registration in beneficiary form; sole or joint tenancy ownership.
Next Section
Section 45-6-304 - Origination of registration in beneficiary form.