Duty of issuer to register transfer

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: (i) Under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name; (ii) The 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; (iii) Reasonable assurance is given that the indorsement or instruction is genuine and authorized (W.S. 34.1-8-402); (iv) Any applicable law relating to the collection of taxes has been complied with; (v) The transfer does not violate any restriction on transfer imposed by the issuer in accordance with W.S. 34.1-8-204; (vi) A demand that the issuer not register transfer has not become effective under W.S. 34.1-8-403, or the issuer has complied with W.S. 34.1-8-403(b) but no legal process or indemnity bond is obtained as provided in W.S. 34.1-8-403(d); and (vii) 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.