242

LAWS OF MARYLAND

[Ch. 11

REGISTERED OR CERTIFIED
ADDRESS GIVEN BY HIM.
AGENT SO MAILS SUCH A
TRANSFER FOR 30 DAYS

MAIL TO THE CLAIMANT AT THE

IF THE CORPORATION OR TRANSFER

NOTICE IT SHALL WITHHOLD THE

AFTER THE MAILING AND SHALL THEN

MAKE THE TRANSFER UNLESS RESTRAINED BY A COURT ORDER.
15-306. NONLIABILITY OF CORPORATION AND TRANSFER AGENT.

A CORPORATION OR TRANSFER AGENT INCURS NO LIABILITY
TO ANY PERSON BY MAKING A TRANSFER OR OTHERWISE ACTING IN
A MANNER AUTHORIZED BY THIS SUBTITLE.

15-307. NONLIABILITY OF THIRD PERSONS.

(A) ABSENCE
PROCEEDS.

OF ACTUAL KNOWLEDGE OF MISUSE

OF

NO PERSON WHO PARTICIPATES IN THE ACQUISITION,
DISPOSITION, ASSIGNMENT OR TRANSFER OF A SECURITY BY OR
TO A FIDUCIARY, INCLUDING A PERSON WHO GUARANTEES THE
SIGNATURE OF THE FIDUCIARY, IS LIABLE FOR PARTICIPATION
IN ANY BREACH OF FIDUCIARY DUTY BY REASON OF FAILURE TO
INQUIRE WHETHER THE TRANSACTION INVOLVES A BREACH UNLESS
IT IS SHOWN THAT HE ACTED HUH ACTUAL KNOWLEDGE THAT THE
PROCEEDS OF THE TRANSACTION MERE BEING OR WERE TO BE USED
WRONGFULLY FOR THE INDIVIDUAL BENEFIT OF THE FIDUCIARY OR
THAT THE TRANSACTION HAS OTHERWISE IS BREACH OF DUTY.

(B) PERSON WHO GUARANTEED SIGNATURE OF FIDUCIARY.

IF A CORPORATION OR TRANSFER AGENT MAKES A TRANSFER
PURSUANT TO AN ASSIGNMENT BY A FIDUCIARY, A PERSON WHO
GUARANTEES THE SIGNATURE OF THE FIDUCIARY IS NOT LIABLE
ON THE GUARANTEE TO ANY PERSON TO WHOM THE CORPORATION OR
TRANSFER AGENT BY REASON OF THIS SUBTITLE INCURS NO
LIABILITY.

(C) NO LIABILITY IMPOSED ON CORPORATION OR TRANSFER
AGENT.

THIS SECTION DOES NOT IMPOSE ANY LIABILITY UPON THE
CORPORATION OR ITS TRANSFER AGENT.

15-308. TERRITORIAL APPLICATION.

(A) LAW GOVERNING RIGHTS AND DUTIES
AND TRANSFER AGENT.

OF CORPORATION

THE RIGHTS AND DUTIES OF A CORPORATION AND ITS
TRANSFER AGENTS IN REGISTERING A SECURITY IN THE NAME OF
A FIDUCIARY OR IN MAKING A TRANSFER OF A SECURITY
PURSUANT TO AN ASSIGNMENT BY A FIDUCIARY ARE GOVERNED BY
THE LAW OF THE JURISDICTION UNDER WHOSE LAWS THE
CORPORATION IS ORGANIZED.