Section 45.08.402 - Assurance that endorsements and instructions are effective(a) An issuer may require the following assurance that each necessary endorsement or each instruction is genuine and authorized:(1) in all cases, a guarantee of the signature of the person making an endorsement or originating an instruction including, in the case of an instruction, reasonable assurance of identity;(2) if the endorsement is made or the instruction is originated by an agent, appropriate assurance of actual authority to sign;(3) if the endorsement is made or the instruction is originated by a fiduciary under AS 45.08.107(e)(4) or (5), appropriate evidence of appointment or incumbency;(4) if there is more than one fiduciary, reasonable assurance that all who are required to sign have done so; and(5) if the endorsement is made or the instruction is originated by a person not covered by another provision of this subsection, assurance appropriate to the case corresponding as nearly as may be to the provisions of this subsection.(b)[Repealed, Sec. 68 ch 17 SLA 1996].(c) In this section,(1) "appropriate evidence of appointment or incumbency" means(A) in the case of a fiduciary appointed or qualified by a court, a certificate issued by or under the direction or supervision of the court or an officer of the court and dated within 60 days before the date of presentation for transfer; or(B) in any other case, a copy of a document showing the appointment or a certificate issued by or on behalf of a person reasonably believed by the issuer to be responsible or, in the absence of that document or certificate, other evidence the issuer reasonably considers to be appropriate;(2) "guarantee of the signature" means a guarantee signed by or on behalf of a person reasonably believed by the issuer to be responsible; an issuer may adopt standards with respect to responsibility if the standards are not manifestly unreasonable.(d) An issuer may elect to require reasonable assurance beyond that specified in this section.