HRS §490:8-407
Duties of agents who handle securities transfers
This section says that when a company uses an agent to handle securities transfers, new certificates, or cancellations, that agent has the same duties to the security owner as the company itself has. It does not create new rules, just makes the agent equally responsible for those specific tasks.
businessesfinancial institutions
The statute, as written — Authenticating trustee, transfer agent, and registrar
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 uncertificated securities, or in the cancellation of surrendered security 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.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.