The Court determined that (1) Nevada statutory law partially abrogates common law by making a stock transfer agent’s duty the same as the issuer’s in processing a request to register a transfer of securities; and (2) a transfer agent’s statutory duty to process legend removal requests does not arise without the stockholder’s request to act.
Additionally, the Court reaffirmed the liability of a transfer agent to a stockholder for common law claims asserting misfeasance.
Lancaster, Chelsea, "Summary of Guilfoyle v. Olde Monmouth Stock Transfer Co., 130 Nev. Adv. Op. 78" (2014). Nevada Supreme Court Summaries. 821.