(1) The issuer may require the following assurance that each necessary indorsement of a certificated security or each instruction (Section 36-8-308) is genuine and effective:

1. (a) in all cases, a guarantee of the signature (subsection (1) or (2) of Section 36-8-312) of the person indorsing a certificated security or originating an instruction including, in the case of an instruction, a warranty of the taxpayer identification number or, in the absence thereof, other reasonable assurance of identity;
2. (b) if the indorsement is made or the instruction is originated by an agent, appropriate assurance of authority to sign;
3. (c) if the indorsement is made or the instruction is originated by a fiduciary, appropriate evidence of appointment or incumbency;
4. (d) if there is more than one fiduciary, reasonable assurance that all who are required to sign have done so; and
5. (e) if the indorsement is made or the instruction is originated by a person not covered by any of the foregoing, assurance appropriate to the case corresponding as nearly as may be to the foregoing.

(3) "Appropriate evidence of appointment of incumbency" in subsection (1) means:

1. (a) in the case of a fiduciary appointed or qualified by a court, a certificate issued by or under the direction or supervision of that court or an officer thereof and dated within sixty days before the date of presentation for transfer, pledge, or release; or
2. (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 reasonably deemed by the issuer to be appropriate. The issuer may adopt standards with respect to the evidence they are not manifestly unreasonable. The issuer is not charged with notice of the contents of any document obtained pursuant to this paragraph (b) except to the extent that the contents relate directly to the appointment or incumbency.