84-8-207. Rights and duties of issuer with respect to registered owners. (a) Before due presentment for registration of transfer of a certificated security in registered form or of an instruction requesting registration of transfer of an uncertificated security, the issuer or indenture trustee may treat the registered owner as the person exclusively entitled to vote, receive notifications, and otherwise exercise all the rights and powers of an owner.
(b) This article does not affect the liability of the registered owner of a security for a call, assessment, or the like.
History: L. 1996, ch. 202, § 50; July 1.
KANSAS COMMENT, 1996
This section is derived from the former 84-8-207, which has been modified to refer to "certificated" and "uncertificated" securities. The other changes are minor and stylistic. The section is identical to the Official Text.
This section is in substantial accord with former K.S.A. 17-4803. The registered owner may be treated as having the normal incidents of ownership prior to due presentment for registration of transfer for certificated registered securities or before instruction requesting transfer for an uncertificated security. Registration of transfer is covered by 84-8-401. For an illustration of the operation of this section, see New England Merchants Nat'l Bank of Boston v. Old Colony Trust Co., 417 N.E.2d 471 (Mass. App. 1981).
Revisor's Note:
Former section 84-8-207 was repealed by L. 1996, ch. 202, § 91 and the number reassigned to the current text.
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