CopyCited 1 times | Published | Florida 3rd District Court of Appeal | 54 U.C.C. Rep. Serv. 2d (West) 1084, 2004 Fla. App. LEXIS 14817, 2004 WL 2237710
...e a duty on CST to comply with Faro's request for the stock exchange. Chapter 678, Florida Statutes (1999) is part of the Uniform Commercial Code [U.C.C.] (Article 8) relating to investment securities. Part IV thereof, comprised of sections
678.4011-
678.4071 (1999), governs security transfer registrations....
...efore, does not preclude an action for damages. Section
678.4011(2), however, only deals with "the issuer." CST is a "transfer agent." The question then is whether a transfer agent may be liable for its own delay, failure, or refusal. In that regard section
678.4071, Florida Statutes (1999) provides: "A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its securities, in the issue of new security certificates or...
...ity certificates has the same obligation to the holder or owner of a certificated or uncertificated security with regard to the particular functions performed as the issuer has in regard to those functions." On CST's urging the trial court held that section 678.4071 does not apply to CST....
