Minnesota § 520.23 - ASSIGNMENT BY A FIDUCIARY
Full text of Minnesota Minnesota Statutes § 520.23 — ASSIGNMENT BY A FIDUCIARY, with citation guidance and answers to common questions.
§ 520.23. ASSIGNMENT BY A FIDUCIARY
Except as otherwise provided in sections 520.21 to 520.31, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary:
(a) May assume without inquiry that the assignment, even though to the fiduciary personally or to a nominee, is within the fiduciary's authority and capacity and is not in breach of fiduciary duties;
(b) May assume without inquiry that the fiduciary has complied with any controlling instrument and with the law of the jurisdiction governing the fiduciary relationship, including any law requiring the fiduciary to obtain court approval of the transfer; and
(c) Is not charged with notice of and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to the fiduciary relationship or the assignment, even though the record or document is in its possession.
History:
1961 c 462 s 3; 1986 c 444
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 520.23
What does Minnesota Statutes § 520.23 cover?
Section 520.23 ("ASSIGNMENT BY A FIDUCIARY") is part of the Minnesota Statutes, the codified statutory law of Minnesota. 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 Minnesota § 520.23?
A common citation format is "Minnesota Statutes § 520.23" (Minnesota). 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 Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 520.23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota 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 Minnesota.