# 11 M.R.S. § 8-1109: 11 §8-1109. Warranties in indirect holding

> Maine · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1109

## Section

- **Citation:** 11 M.R.S. § 8-1109
- **Heading:** 11 §8-1109. Warranties in indirect holding
- **Jurisdiction:** Maine
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** ME Code / Title 11 / Chapter 8-A / Section 8-1109

## Text

(1). A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that: (a). The entitlement order is made by an appropriate person or, if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person; and [PL 1997, c. 429, Pt. B, §2 (NEW).] (b). There is no adverse claim to the security entitlement. [PL 1997, c. 429, Pt. B, §2 (NEW).] [PL 1997, c. 429, Pt. B, §2 (NEW).]

(2). A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in section 8‑1108, subsection (1) or (2) . [PL 1997, c. 429, Pt. B, §2 (NEW).]

(3). If a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the entitlement holder the warranties specified in section 8‑1108, subsection (1) or (2) . [PL 1997, c. 429, Pt. B, §2 (NEW).]

## Nearby sections

- [11 M.R.S. § 8-1101 11 §8-1101. Short title](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1101.md)
- [11 M.R.S. § 8-1102 11 §8-1102. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1102.md)
- [11 M.R.S. § 8-1103 11 §8-1103. Rules for determining whether certain obligations and interests are securities or financial assets](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1103.md)
- [11 M.R.S. § 8-1104 11 §8-1104. Acquisition of security or financial asset or interest in a security or financial asset](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1104.md)
- [11 M.R.S. § 8-1105 11 §8-1105. Notice of adverse claim](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1105.md)
- [11 M.R.S. § 8-1106 11 §8-1106. Control](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1106.md)
- [11 M.R.S. § 8-1107 11 §8-1107. Whether indorsement, instruction or entitlement order is effective](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1107.md)
- [11 M.R.S. § 8-1108 11 §8-1108. Warranties in direct holding](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1108.md)
- [11 M.R.S. § 8-1109 11 §8-1109. Warranties in indirect holding](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1109.md)
- [11 M.R.S. § 8-1110 11 §8-1110. Applicability; choice of law](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1110.md)
- [11 M.R.S. § 8-1111 11 §8-1111. Clearing corporation rules](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1111.md)
- [11 M.R.S. § 8-1112 11 §8-1112. Creditor's legal process](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1112.md)
- [11 M.R.S. § 8-1113 11 §8-1113. Statute of frauds inapplicable](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1113.md)
- [11 M.R.S. § 8-1114 11 §8-1114. Evidentiary rules concerning certificated securities](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1109. Check the current official text before relying on it. Not legal advice.