New Jersey § 14:18-3

§ 14:18-3.

Except as otherwise provided in this act, 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 himself

or to his nominee, is within his authority and capacity and is not in breach of his

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.