Section 42a-8-401 - Duty of issuer to register transfer(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:(1) Under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name;(2) The endorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on behalf of the appropriate person;(3) Reasonable assurance is given as provided in section 42a-8-402 that the endorsement or instruction is genuine and authorized;(4) Any applicable law relating to the collection of taxes has been complied with;(5) The transfer does not violate any restriction on transfer imposed by the issuer in accordance with section 42a-8-204;(6) A demand that the issuer not register transfer has not become effective under section 42a-8-403, or the issuer has complied with subsection (b) of section 42a-8-403 but no legal process or indemnity bond is obtained as provided in subsection (d) of section 42a-8-403; and(7) The transfer is in fact rightful or is to a protected purchaser.(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.Conn. Gen. Stat. § 42a-8-401
(1959, P.A. 133, S. 8-401; P.A. 79-435, S. 37; P.A. 97-182, S. 34; P.A. 98-93, S. 7, 15.)
Cited. 6 Conn.App. 530.