District Of Columbia § 28:8-109 - Warranties in indirect holding.
Full text of District Of Columbia D.C. Code § 28:8-109 — Warranties in indirect holding., with citation guidance and answers to common questions.
§ 28:8-109. Warranties in indirect holding.
28:8-109A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that:
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
There is no adverse claim to the security entitlement.
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 to the securities intermediary the warranties specified in or (b).
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 to the entitlement holder the warranties specified in or (b).
Annotations
“Uncertificated security”. Section 8-102(a)(18).
“Security certificate”. Section 8-102(a)(16).
“Securities intermediary”. Section 8-102(a)(14).
“Securities account”. Section 8-501.
“Person”. Section 1-201(30).
“Instruction”. Section 8-102(a)(12).
“Entitlement order”. Section 8-102(a)(8).
“Entitlement holder”. Section 8-102(a)(7).
“Appropriate person”. Section 8-107.
“Adverse claim”. Section 8-102(a)(1).
3. As with the Section 8-108 warranties, the warranties specified in this section may be modified by agreement under Section 1-102(3).
2. Subsection (c) states the warranties that a securities intermediary gives when a customer who has been holding securities in an account with the securities intermediary requests that certificates be delivered or that uncertificated securities be registered in the customer’s name. The warranties are the same as those that brokers make with respect to securities that the brokers sell to or buy on behalf of the customers. See Section 8-108(i).
1. Subsection (a) provides that a person who originates an entitlement order warrants to the securities intermediary that the order is authorized, and warrants the absence of adverse claims. Subsection (b) specifies the warranties that are given when a person who holds securities directly has the holding converted into indirect form. A person who delivers a certificate to a securities intermediary or originates an instruction for an uncertificated security gives to the securities intermediary the transfer warranties under Section 8-108. If the securities intermediary in turn delivers the certificate to a higher level securities intermediary, it gives the same warranties.
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 28:8-109
What does D.C. Code § 28:8-109 cover?
Section 28:8-109 ("Warranties in indirect holding.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 28:8-109?
A common citation format is "D.C. Code § 28:8-109" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 28:8-109 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.