Registration of assets in name of nominee

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    (a)    A trust company may register in the name of a nominee any assets of a common trust fund that it administers.

    (b)    The nominee may be either an individual or a partnership.

    (c)    A trust company that registers assets in the name of a nominee shall:

        (1)    Show the assets and the name of the nominee on its records; and

        (2)    If the nominee is operated or controlled by the trust company, supervise any possession or control of the assets by the nominee.

    (d)    A transfer agent or registrar of a corporation whose stocks, bonds, securities, or other obligations are registered in the name of a nominee under this section is not required to investigate and may not be held liable for treating the nominee as the owner of the assets.


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