Uniform Securities Ownership by Minors Act Law and Legal Definition
The Uniform Securities Ownership by Minors Act was drafted by the National Conference of Commissioners on Uniform State Laws (NCCUSL) in 1960. This act facilitates business transactions. It exempts banks, brokers and transfer agents who handle securities of a minor, but do not deal with a minor directly from liability upon disaffirmance unless they had received notice of or had actual knowledge of the minority of the holder of the security.
The act has been adopted by states like Alabama, Arkansas and North Dakota.
Legal Definition list
- Uniform Securities Act
- Uniform Rules of Evidence Act
- Uniform Residential Mortgage Satisfaction Act
- Uniform Residential Landlord and Tenant Act [URLTA]
- Uniform Reciprocal Enforcement of Support Act URESA
- Uniform Securities Ownership by Minors Act
- Uniform Simplification of Land Transfers Act
- Uniform Simultaneous Death Act
- Uniform Simultaneous Death Act
- Uniform Single Publication Act
- Uniform Standards of Professional Appraisal Practice
