A security may be registered in beneficiary form, if the form is authorized by this chapter, by the laws of the state of organization of the issuer or registering entity; by the laws of the state of the location of the registering entity's principal office, the office of its transfer agent, or its office making the registration; or by the laws of the state listed as the owner's address at the time of registration. A registration governed by the law of a jurisdiction in which these provisions are 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: 1997 Act No. 102, Section 1, eff June 13, 1997.
South Carolina Legal Code