72-6-303. Registration in beneficiary form -- applicable law. (1) A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state:
     (a) of organization of the issuer or registering entity;
     (b) of the location of the registering entity's principal office;
     (c) of the office of its transfer agent or its office making the registration; or
     (d) listed as the owner's address at the time of registration.
     (2) A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.

     History: En. Sec. 105, Ch. 494, L. 1993.