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T-11.002 - Act respecting the transfer of securities and the establishment of security entitlements

Section 26
Disposition versions

Full text
26. A purchaser of a certificated security is considered to have notice of an adverse claim if
(1)  the security certificate, whether in bearer form or registered form, has been endorsed “for collection” or “for surrender” or for some other purpose not involving a transfer; or
(2)  the security certificate is in bearer form and has on it an unambiguous statement that it is the property of a person other than the transferor.
The mere writing of a name on a security certificate does not by itself constitute an unambiguous statement that the security certificate is the property of a person other than the transferor.
2008, c. 20, s. 26.
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