New Jersey § 12a:8-402

§ 12a:8-402.

a. An issuer may require the following assurance that each necessary indorsement or

each instruction is genuine and authorized: (1) in all cases, a guaranty of the signature of the person making an indorsement

or originating an instruction including, in the case of an instruction, reasonable

assurance of identity; (2) if the indorsement is made or the instruction is originated by an agent, appropriate

assurance of actual authority to sign; (3) if the indorsement is made or the instruction is originated by a fiduciary pursuant

to paragraph (4) or (5) of subsection a. of 12A:8-107, appropriate evidence of appointment

or incumbency; (4) if there is more than one fiduciary, reasonable assurance that all who are required

to sign have done so; and (5) if the indorsement is made or the instruction is originated by a person not covered

by another provision of this subsection, assurance appropriate to the case corresponding

as nearly as may be to the provisions of this subsection. b. An issuer may elect to require reasonable assurance beyond that specified in this

section. c. In this section: (1) “ Guaranty of the signature ” means a guaranty signed by or on behalf of a person reasonably believed by the issuer

to be responsible. An issuer may adopt standards with respect to responsibility if they are not manifestly

unreasonable. (2) “ Appropriate evidence of appointment or incumbency ” means: (a) in the case of a fiduciary appointed or qualified by a court, a certificate issued

by or under the direction or supervision of the court or an officer thereof and dated

within 60 days before the date of presentation for transfer; or (b) in any other case, a copy of a document showing the appointment or a certificate

issued by or on behalf of a person reasonably believed by an issuer to be responsible

or, in the absence of that document or certificate, other evidence the issuer reasonably

considers appropriate.