ORS 78.3060
Effect of guaranteeing signature, indorsement or instruction

(1)

A person who guarantees a signature of an indorser of a security certificate warrants that at the time of signing:

(a)

The signature was genuine;

(b)

The signer was an appropriate person to indorse, or if the signature was by an agent, the agent had actual authority to act on behalf of the appropriate person; and

(c)

The signer had legal capacity to sign.

(2)

A person who guarantees a signature of the originator of an instruction warrants that at the time of signing:

(a)

The signature was genuine;

(b)

The signer was an appropriate person to originate the instruction, or if the signature was by an agent, the agent had actual authority to act on behalf of the appropriate person, if the person specified in the instruction as the registered owner was, in fact, the registered owner, as to which fact the signature guarantor does not make a warranty; and

(c)

The signer had legal capacity to sign.

(3)

A person who specially guarantees the signature of an originator of an instruction makes the warranties of a signature guarantor under subsection (2) of this section and also warrants that at the time the instruction is presented to the issuer:

(a)

The person specified in the instruction as the registered owner of the uncertificated security will be the registered owner; and

(b)

The transfer of the uncertificated security requested in the instruction will be registered by the issuer free from all liens, security interests, restrictions and claims other than those specified in the instruction.

(4)

A guarantor under subsections (1) and (2) of this section or a special guarantor under subsection (3) of this section does not otherwise warrant the rightfulness of the transfer.

(5)

A person who guarantees an indorsement of a security certificate makes the warranties of a signature guarantor under subsection (1) of this section and also warrants the rightfulness of the transfer in all respects.

(6)

A person who guarantees an instruction requesting the transfer of an uncertificated security makes the warranties of a special signature guarantor under subsection (3) of this section and also warrants the rightfulness of the transfer in all respects.

(7)

An issuer may not require a special guaranty of signature, a guaranty of indorsement or a guaranty of instruction as a condition to registration of transfer.

(8)

The warranties under this section are made to a person taking or dealing with the security in reliance on the guaranty, and the guarantor is liable to the person for loss resulting from their breach. An indorser or originator of an instruction whose signature, indorsement or instruction has been guaranteed is liable to a guarantor for any loss suffered by the guarantor as a result of breach of the warranties of the guarantor. [1961 c.726 §78.3060 (Effect of guaranteeing signature, indorsement or instruction); 1985 c.676 §78.3060 (Effect of guaranteeing signature, indorsement or instruction); 1995 c.328 §32]

Source: Section 78.3060 — Effect of guaranteeing signature, indorsement or instruction, https://www.­oregonlegislature.­gov/bills_laws/ors/ors078.­html.

78.1010
Short title 78.1020
Definitions and index of definitions 78.1030
Rules for determining whether certain obligations and interests are securities or financial assets 78.1040
Acquisition of security or financial asset or interest therein 78.1050
Notice of adverse claim 78.1060
Control 78.1070
Whether indorsement, instruction or entitlement order is effective 78.1080
Warranties in direct holding 78.1090
Warranties in indirect holding 78.1100
Applicability 78.1110
Clearing corporation rules 78.1120
Creditor’s legal process 78.1130
Statute of frauds inapplicable 78.1140
Evidentiary rules concerning certificated securities 78.1150
Securities intermediary and others not liable to adverse claimant 78.1160
Securities intermediary as purchaser for value 78.2010
“Issuer.” 78.2020
Terms of security 78.2030
Staleness as notice of defects or defenses 78.2040
Effect of issuer’s restriction on transfer 78.2050
Effect of unauthorized signature on security certificate 78.2060
Completion or alteration of security certificate 78.2070
Rights of issuer with respect to registered owners 78.2080
Effect of signature of authenticating trustee, registrar or transfer agent 78.2090
Issuer’s lien 78.2100
Overissue 78.3010
Delivery 78.3020
Rights of purchaser 78.3030
“Protected purchaser.” 78.3040
Indorsement 78.3050
Instruction 78.3060
Effect of guaranteeing signature, indorsement or instruction 78.3070
Purchaser’s rights to requisites for registration of transfer 78.4010
Duty of issuer to register transfer 78.4020
Assurance that indorsement or instruction is effective 78.4030
Demand that issuer not register transfer 78.4040
Wrongful registration 78.4050
Replacement of lost, destroyed or wrongfully taken security certificate 78.4060
Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate 78.4070
Authenticating trustee, transfer agent and registrar 78.5010
Securities account 78.5020
Assertion of adverse claim against entitlement holder 78.5030
Property interest of entitlement holder in financial asset held by securities intermediary 78.5040
Duty of securities intermediary to maintain financial asset 78.5050
Duty of securities intermediary with respect to payments and distributions 78.5060
Duty of securities intermediary to exercise rights as directed by entitlement holder 78.5070
Duty of securities intermediary to comply with entitlement order 78.5080
Duty of securities intermediary to change entitlement holder’s position to other form of security holding 78.5090
Specification of duties of securities intermediary by other statute or regulation 78.5100
Rights of purchaser of security entitlement from entitlement holder 78.5110
Priority among security interests and entitlement holders
Green check means up to date. Up to date

Current through early 2024

§ 78.3060’s source at oregon​.gov