reglab/housing_qa huggingface dataset:
CO Code § 4-8-305 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 3 - Transfer of Certificated and Uncertificated Securities|§ 4-8-305. Instruction

  If an instruction has been originated by an appropriate person but is incomplete in any other respect, any person may complete it as authorized and the issuer may rely on it as completed, even though it has been completed incorrectly.    Unless otherwise agreed, a person initiating an instruction assumes only the obligations imposed by section 4-8-108 and not an obligation that the security will be honored by the issuer.     History. Source: L. 96: Entire article R&RE, p. 221, § 2, effective July 1.    Editor's note:   This section is similar to former § 4-8-308 as it existed prior to 1996.   OFFICIAL COMMENT   1. The term instruction is defined in Section 8-102(a)(12) as a notification communicated to the issuer of an uncertificated security directing that transfer be registered. Section 8-107 specifies who may initiate an effective instruction.   Functionally, presentation of an instruction is quite similar to the presentation of an indorsed certificate for reregistration. Note that instruction is defined in terms of “communicate,” see Section 8-102(a)(6). Thus, the instruction may be in the form of a writing signed by the registered owner or in any other form agreed upon by the issuer and the registered owner. Allowing nonwritten forms of instructions will permit the development and employment of means of transmitting instructions electronically.   When a person who originates an instruction leaves a blank and the blank later is completed, subsection (a) gives the issuer the same rights it would have had against the originating person had that person completed the blank. This is true regardless of whether the person completing the instruction had authority to complete it. Compare Section 8-206 and its Comment, dealing with blanks left upon issue.   2. Subsection (b) makes clear that the originator of an instruction, like the indorser of a security certificate, does not warrant that the issuer will honor the underlying obligation, but does make warranties as a transferor under Section 8-108.   Definitional Cross References:   “Appropriate person”. Section 8-107   “Instruction”. Section 8-102(a)(12)   “Issuer”. Section 8-201
CO Code § 4-8-307 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 3 - Transfer of Certificated and Uncertificated Securities|§ 4-8-307. Purchaser's Right to Requisites for Registration of Transfer

 Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any other requisite necessary to obtain registration of the transfer of the security, but if the transfer is not for value, a transferor need not comply unless the purchaser pays the necessary expenses. If the transferor fails within a reasonable time to comply with the demand, the purchaser may reject or rescind the transfer.   History. Source: L. 96: Entire article R&RE, p. 223, § 2, effective July 1.    Editor's note:   This section is similar to former § 4-8-316 as it existed prior to 1996.   OFFICIAL COMMENT   1. Because registration of the transfer of a security is a matter of vital importance, a purchaser is here provided with the means of obtaining such formal requirements for registration as signature guaranties, proof of authority, transfer tax stamps and the like. The transferor is the one in a position to supply most conveniently whatever documentation may be requisite for registration of transfer, and the duty to do so upon demand within a reasonable time is here stated affirmatively. If an essential item is peculiarly within the province of the transferor so that the transferor is the only one who can obtain it, the purchaser may specifically enforce the right to obtain it. Compare Section 8-304(d). If a transfer is not for value the transferor need not pay expenses.   2. If the transferor's duty is not performed the transferee may reject or rescind the contract to transfer. The transferee is not bound to do so. An action for damages for breach of contract may be preferred.   Definitional Cross References:   “Purchaser”. Sections 1-201(33) 8-116   “Security”. Section 8-102(a)(15)   “Value”. Sections 1-201(44) 8-116
CO Code § 4-8-405 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 4 - Registration|§ 4-8-405. Replacement of Lost, Destroyed, or Wrongfully Taken Security Certificate

  If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed, or wrongfully taken, the issuer shall issue a new certificate if the owner:   So requests before the issuer has notice that the certificate has been acquired by a protected purchaser;    Files with the issuer a sufficient indemnity bond; and    Satisfies other reasonable requirements imposed by the issuer.       If, after the issue of a new security certificate, a protected purchaser of the original certificate presents it for registration of transfer, the issuer shall register the transfer unless an overissue would result. In that case, the issuer's liability is governed by section 4-8-210. In addition to any rights on the indemnity bond, an issuer may recover the new certificate from a person to whom it was issued or any person taking under that person, except a protected purchaser.     History. Source: L. 96: Entire article R&RE, p. 226, § 2, effective July 1.    Editor's note:   This section is similar to former § 4-8-405 as it existed prior to 1996.   OFFICIAL COMMENT   1. This section enables the owner to obtain a replacement of a lost, destroyed or stolen certificate, provided that reasonable requirements are satisfied and a sufficient indemnity bond supplied.   2. Where an “original” security certificate has reached the hands of a protected purchaser, the registered owner — who was in the best position to prevent the loss, destruction or theft of the security certificate — is now deprived of the new security certificate issued as a replacement. This changes the pre-UCC law under which the original certificate was ineffective after the issue of a replacement except insofar as it might represent an action for damages in the hands of a purchaser for value without notice. Keller v. Eureka Brick Mach. Mfg. Co., 43 Mo.App. 84, 11 L.R.A. 472 . Where both the original and the new certificate have reached protected purchasers the issuer is required to honor both certificates unless an overissue would result and the security is not reasonably available for purchase. See Section 8-210. In the latter case alone, the protected purchaser of the original certificate is relegated to an action for damages. In either case, the issuer itself may recover on the indemnity bond.   Definitional Cross References:   “Bearer form”. Section 8-102(a)(2)   “Certificated security”. Section 8-102(a)(4)   “Issuer”. Section 8-201   “Notice”. Section 1-201(25)   “Overissue”. Section 8-210   “Protected purchaser”. Section 8-303   “Registered form”. Section 8-102(a)(13)   “Security certificate”. Section 8-102(a)(16)
CO Code § 4-8-406 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 4 - Registration|§ 4-8-406. Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate

 If a security certificate has been lost, apparently destroyed, or wrongfully taken, and the owner fails to notify the issuer of that fact within a reasonable time after the owner has notice of it and the issuer registers a transfer of the security before receiving notification, the owner may not assert against the issuer a claim for registering the transfer under section 4-8-404 or a claim to a new security certificate under section 4-8-405 .   History. Source: L. 96: Entire article R&RE, p. 227, § 2, effective July 1.    Editor's note:   This section is similar to former § 4-8-405 as it existed prior to 1996.   OFFICIAL COMMENT   An owner who fails to notify the issuer within a reasonable time after the owner knows or has reason to know of the loss or theft of a security certificate is estopped from asserting the ineffectiveness of a forged or unauthorized indorsement and the wrongfulness of the registration of the transfer. If the lost certificate was indorsed by the owner, then the registration of the transfer was not wrongful under Section 8-404, unless the owner made an effective demand that the issuer not register transfer under Section 8-403.   Definitional Cross References:   “Issuer”. Section 8-201   “Notify”. Section 1-201(25)   “Security certificate”. Section 8-102(a)(16)
CO Code § 4-8-407 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 4 - Registration|§ 4-8-407. Authenticating Trustee, Transfer Agent, and Registrar

 A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its securities, in the issue of new security certificates or uncertificated securities, or in the cancellation of surrendered security certificates has the same obligation to the holder or owner of a certificated or uncertificated security with regard to the particular functions performed as the issuer has in regard to those functions.   History. Source: L. 96: Entire article R&RE, p. 227, § 2, effective July 1.    Editor's note:   This section is similar to former § 4-8-406 as it existed prior to 1996.   OFFICIAL COMMENT   1. Transfer agents, registrars, and the like are here expressly held liable both to the issuer and to the owner for wrongful refusal to register a transfer as well as for wrongful registration of a transfer in any case within the scope of their respective functions where the issuer would itself be liable. Those cases which have regarded these parties solely as agents of the issuer and have therefore refused to recognize their liability to the owner for mere non-feasance, i.e., refusal to register a transfer, are rejected. Hulse v. Consolidated Quicksilver Mining Corp., 65 Idaho 768, 154 P.2d 149 ; Nicholson v. Morgan, 119 Misc. 309, 196 N.Y.Supp. 147 (1922); Lewis v. Hargadine-McKittrick Dry Goods Co., 305 Mo. 396, 274 S.W. 1041 (1924).   2. The practice frequently followed by authenticating trustees of issuing certificates of indebtedness rather than authenticating duplicate certificates where securities have been lost or stolen became obsolete in view of the provisions of Section 8-405, which makes express provision for the issue of substitute securities. It is not a breach of trust or lack of due diligence for trustees to authenticate new securities. Cf. Switzerland General Ins. Co. v. N.Y.C. H.R.R. Co., 152 App.Div. 70, 136 N.Y.S. 726 (1912).   Definitional Cross References:   “Certificated security”. Section 8-102(a)(4)   “Issuer”. Section 8-201   “Security”. Section 8-102(a)(15)   “Security certificate”. Section 8-102(a)(16)   “Uncertificated security”. Section 8-102(a)(18)   ANNOTATION   Request to reissue a stock certificate without the restrictive legend is considered a “request to transfer shares” within the meaning of § 4-8-401 . Therefore it falls within the duties of this section. Am. Sec. Transfer, Inc. v. Pantheon Indus., Inc., 871 F. Supp. 400 (D. Colo. 1994 ) (decided under former § 4-8-406 as it existed prior to the 1996 repeal and reenactment of this article).
CO Code § 4-8-508 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 5 - Security Entitlements|§ 4-8-508. Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Form of Security Holding

 A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if:    The securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or    In the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.     History. Source: L. 96: Entire article R&RE, p. 231, § 2, effective July 1.    OFFICIAL COMMENT   1. This section states another aspect of the duties of securities intermediaries that make up security entitlements — the obligation of the securities intermediary to change an entitlement holder's position into any other form of holding for which the entitlement holder is eligible or to transfer the entitlement holder's position to an account at another intermediary. This section does not state unconditionally that the securities intermediary is obligated to turn over a certificate to the customer or to cause the customer to be registered on the books of the issuer, because the customer may not be eligible to hold the security directly. For example, municipal bonds are now commonly issued in “book-entry only” form, in which the only entity that the issuer will register on its own books is a depository.   If security certificates in registered form are issued for the security, and individuals are eligible to have the security registered in their own name, the entitlement holder can request that the intermediary deliver or cause to be delivered to the entitlement holder a certificate registered in the name of the entitlement holder or a certificate indorsed in blank or specially indorsed to the entitlement holder. If security certificates in bearer form are issued for the security, the entitlement holder can request that the intermediary deliver or cause to be delivered a certificate in bearer form. If the security can be held by individuals directly in uncertificated form, the entitlement holder can request that the security be registered in its name. The specification of this duty does not determine the pricing terms of the agreement in which the duty arises.   2. The same “agreement/due care” formula is used in this section as in the other Part 5 sections on the duties of intermediaries. So too, the rules of Section 8-509 apply to the Section 8-508 duty.   Definitional Cross References:   “Agreement”. Section 1-201(3)   “Entitlement holder”. Section 8-102(a)(7)   “Financial asset”. Section 8-102(a)(9)   “Securities intermediary”. Section 8-102(a)(14)   “Security entitlement”. Section 8-102(a)(17)
CO Code § 4-8-509 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 5 - Security Entitlements|§ 4-8-509. Specification of Duties of Securities Intermediary by Other Statute or Regulation - Manner of Performance of Duties of Securities Intermediary and Exercise of Rights of Entitlement Holder

  If the substance of a duty imposed upon a securities intermediary by sections 4-8-504 through 4-8-508 is the subject of other statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty.    To the extent that specific standards for the performance of the duties of a securities intermediary or the exercise of the rights of an entitlement holder are not specified by other statute, regulation, or rule or by agreement between the securities intermediary and entitlement holder, the securities intermediary shall perform its duties and the entitlement holder shall exercise its rights in a commercially reasonable manner.    The obligation of a securities intermediary to perform the duties imposed by sections 4-8-504 through 4-8-508 is subject to:   Rights of the securities intermediary arising out of a security interest under a security agreement with the entitlement holder or otherwise; and    Rights of the securities intermediary under other law, regulation, rule, or agreement to withhold performance of its duties as a result of unfulfilled obligations of the entitlement holder to the securities intermediary.       Sections 4-8-504 through 4-8-508 do not require a securities intermediary to take any action that is prohibited by other statute, regulation, or rule.     History. Source: L. 96: Entire article R&RE, p. 231, § 2, effective July 1.    OFFICIAL COMMENT   This Article is not a comprehensive statement of the law governing the relationship between broker-dealers or other securities intermediaries and their customers. Most of the law governing that relationship is the common law of contract and agency, supplemented or supplanted by regulatory law. This Article deals only with the most basic commercial/property law principles governing the relationship. Although Sections 8-504 through 8-508 specify certain duties of securities intermediaries to entitlement holders, the point of these sections is to identify what it means to have a security entitlement, not to specify the details of performance of these duties.   For many intermediaries, regulatory law specifies in great detail the intermediary's obligations on such matters as safekeeping of customer property, distribution of proxy materials, and the like. To avoid any conflict between the general statement of duties in this Article and the specific statement of intermediaries' obligations in such regulatory schemes, subsection (a) provides that compliance with applicable regulation constitutes compliance with the duties specified in Sections 8-504 through 8-508.   Definitional Cross References:   “Agreement”. Section 1-201(3)   “Entitlement holder”. Section 8-102(a)(7)   “Securities intermediary”. Section 8-102(a)(14)   “Security agreement”. Section 9-105(1)(l)   “Security interest”. Section 1-201(37)
CO Code § 4-8-601 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 6 - Transition Provisions for Revised Article 8|§ 4-8-601. Effective Date

 This article takes effect on July 1, 1996.   History. Source: L. 96: Entire article R&RE, p. 233, § 2, effective July 1.    Cross references:   For offenses relating to this title, see part 5 of article 5 of title 18.   Official Comments   Copyright by the American Law Institute and the National Conference of Commissioners on Uniform State Laws. Reproduced with the permission of the Permanent Editorial Board for the Uniform Commercial Code. All rights reserved. —   Editor's note:   The Official Comments to the Uniform Commercial Code are available only in the printed book form of Colorado Revised Statutes. As noted above, the Official Comments are subject to copyright by the American Law Institute and the National Conference of Commissioners on Uniform State Laws. At this time, Colorado has a license to reprint the Official Comments in the printed book form.   Editor's note:    The numbering and sequencing of C.R.S. subsections do not necessarily correspond with the numbering and sequencing of subsections in the uniform act.    This article was numbered as article 8 of chapter 155, C.R.S. 1963. The provisions of this article were repealed and reenacted in 1996, resulting in the addition, relocation, and elimination of sections as well as subject matter. For amendments to this article prior to 1996, consult the Colorado statutory research explanatory note and the table itemizing the replacement volumes and supplements to the original volume of C.R.S. 1973 beginning on page vii in the front of this volume. Former C.R.S. section numbers are shown in editor's notes following those sections that were relocated. For a detailed comparison, see the “Table of Disposition of Sections in Prior Versions” in the prefatory note at the beginning of this article.     Law reviews:   For article, “Limited Partnership Interests as Uncertificated Securities”, see 13 Colo. Law. 1194 .
CO Code § 4-8-602 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 8 - Investment Securities|Part 6 - Transition Provisions for Revised Article 8|§ 4-8-602. Repeals

 (Reserved)
CO Code § 4-9-106 (2021)
2021 Colorado Code|Title 4 - Uniform Commercial Code|Article 9 - Secured Transactions|Part 1 - General Provisions|§ 4-9-106. Control of Investment Property

  A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 4-8-106.    A secured party has control of a commodity contract if:   The secured party is the commodity intermediary with which the commodity contract is carried; or    The commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.       A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.     History. Source: L. 2001: Entire article R&RE, p. 1329, § 1, effective July 1.    Editor's note:   The provisions of this section are similar to former §§ 4-9-115 (e) and 4-8-106 as they existed prior to 2001.   OFFICIAL COMMENT   1. Source. Former Section 9-115(e).   2. “Control” Under Article 8. For an explanation of “control” of securities and certain other investment property, see Section 8-106, Comments 4 and 7.   3. “Control” of Commodity Contracts. This section, as did former Section 9-115(1)(e), contains provisions relating to control of commodity contracts which are analogous to those in Section 8-106 for other types of investment property.   4. Securities Accounts and Commodity Accounts. For drafting convenience, control with respect to a securities account or commodity account is defined in terms of obtaining control over the security entitlements or commodity contracts. Of course, an agreement that provides that (without further consent of the debtor) the securities intermediary or commodity intermediary will honor instructions from the secured party concerning a securities account or commodity account described as such is sufficient. Such an agreement necessarily implies that the intermediary will honor instructions concerning all security entitlements or commodity contracts carried in the account and thus affords the secured party control of all the security entitlements or commodity contracts.