78.1090 Warranties in indirect holding
OregonStatutes
Ask Donna
How this section applies to your facts.
OR Code › Title 8 › Chapter 78 › Section 78.1090
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
(b) There is no adverse claim to the security entitlement.
(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 the warranties specified in ORS 78.1080 (Warranties in direct holding) (1) or (2) to the securities intermediary.
(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 the warranties specified in ORS 78.1080 (Warranties in direct holding) (1) or (2) to the entitlement holder. [1995 c.328 §9]
Source: Section 78.1090 — Warranties in indirect holding , https://www.oregonlegislature.gov/bills_laws/ors/ors078.html (accessed May 26, 2025).
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.