Delaware Code Title 12 Sec. 4308 – Territorial application
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(a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporation is organized.
Terms Used In Delaware Code Title 12 Sec. 4308
- Assignment: includes any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer. See Delaware Code Title 12 Sec. 4301
- Corporation: means a private or public corporation, association or trust issuing a security. See Delaware Code Title 12 Sec. 4301
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee. See Delaware Code Title 12 Sec. 4301
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes an individual, a corporation, government or governmental subdivision or agency, statutory trust, business trust, estate, trust, partnership or association, 2 or more persons having a joint or common interest or any other legal or commercial entity. See Delaware Code Title 12 Sec. 4301
- Security: includes any share of stock, bond, debenture, note or other security issued by a corporation which is registered as to ownership on the books of the corporation. See Delaware Code Title 12 Sec. 4301
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 39A-101
- Transfer: means a change on the books of a corporation in the registered ownership of a security. See Delaware Code Title 12 Sec. 4301
(b) This chapter applies to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this State in connection with the acquisition, disposition, assignment or transfer of a security by or to a fiduciary and of a person who guarantees in this State the signature of a fiduciary in connection with such a transaction.
12 Del. C. 1953, § ?4308; 54 Del. Laws, c. 141.;