1. A security may be registered in beneficiary form if the form is authorized by this division or a similar statute of the state of any of the following:
a. The state of organization of the issuer or registering entity.
b. The state of location of the registering entity's principal office.
c. The state of location of the office of the entity's transfer agent or the office of the entity making the registration.
d. The state of the address listed as the owner's at the time of registration.
2. A registration governed by the law of a jurisdiction in which this division or a similar statute is not in force or was not in force when a registration in beneficiary form was made is presumed to be valid and authorized as a matter of contract law.
97 Acts, ch 178, §20
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