Chapter 520 — Uniform Fiduciaries Act

520.01 Definitions This section defines key terms used in the Uniform Fiduciaries Act. A fiduciary is anyone who manages money or property … 520.02 Application of Payments Made to Fiduciaries This section protects people who pay money to a fiduciary. If you owe a debt to a trust or estate and you pay the … 520.03 This section of Chapter 520, which is part of the Uniform Fiduciaries Act governing how fiduciaries handle money and … 520.04 This section of Chapter 520, which is part of the Uniform Fiduciaries Act governing how fiduciaries handle money and … 520.05 This section of Chapter 520, which is part of the Uniform Fiduciaries Act governing how fiduciaries handle money and … 520.06 This section of Chapter 520, which is part of the Uniform Fiduciaries Act governing how fiduciaries handle money and … 520.07 Deposit in Name of Fiduciary as Such This section covers bank deposits held in the name of a fiduciary. A bank can let the fiduciary withdraw from the … 520.08 Deposit in Name of Principal This section covers bank deposits held in the name of the principal (the person the fiduciary works for). The bank can … 520.09 Deposit in Fiduciary's Personal Account This section covers what happens when a fiduciary deposits trust or estate money into their own personal bank account. … 520.10 Deposit in Names of Two or More Trustees This section covers bank deposits held in the names of two or more trustees. The bank can honor withdrawals by any of … 520.11 Application This section says the Uniform Fiduciaries Act applies to all fiduciary transactions, whether the fiduciary relationship … 520.12 Cases Not Provided for in Sections 520.01 to 520.13 This section says that situations not covered by the Uniform Fiduciaries Act are still governed by other laws and legal … 520.13 Citation, Uniform Fiduciaries Act This section provides the official name of the law: the Uniform Fiduciaries Act. This act has been adopted by multiple … 520.21 Definitions This section defines key terms for the Uniform Act for Simplification of Fiduciary Security Transfers. It covers words … 520.22 Registration in the Name of a Fiduciary This section allows a corporation or transfer agent to register a security transfer when the security is in the name of … 520.23 Assignment by a Fiduciary This section covers how a fiduciary can assign or transfer securities. It sets out the rules for what documentation a … 520.24 Evidence of Appointment or Incumbency This section explains what evidence a corporation or transfer agent may rely on to confirm that a fiduciary has been … 520.25 Adverse Claims This section addresses what happens when someone claims to have a competing interest in securities held by a fiduciary. … 520.26 Nonliability of Corporation and Transfer Agent This section protects corporations and transfer agents from liability when they process a fiduciary security transfer in … 520.27 Nonliability of Third Persons This section protects third parties who deal with a fiduciary in a securities transaction. They are not liable for the … 520.28 Territorial Application This section says the Uniform Act for Simplification of Fiduciary Security Transfers does not apply if the fiduciary was … 520.29 Tax Obligations This section says that nothing in the fiduciary security transfer rules changes any tax obligations. Taxes still must be … 520.30 Uniformity of Interpretation This section says the Uniform Act for Simplification of Fiduciary Security Transfers should be interpreted consistently … 520.31 Short Title This section provides the official name of the law: the Uniform Act for Simplification of Fiduciary Security Transfers. 520.32 Deposit of Securities in Central Depository This section allows fiduciaries to deposit securities in a central depository system instead of holding physical … 520.33 Deposit of United States Government and Agency Securities With a Federal Reserve Bank This section allows fiduciaries to deposit U.S. government and agency securities with a Federal Reserve Bank. The …