Each investment direction shall be in writing and shall not be proper unless the writing is signed by the investor. Except as otherwise specified by the agent’s investment direction procedure, “writing” and “signed” shall be construed according to § 35.045, subject to any security procedures required by the agent or the issuer. Without limiting the comprehensive effect of the above, a signed writing includes, to the extent permitted by the applicable investment(s), a proper telephone communication made in the manner prescribed by the agent and the issuer.
(Ord. NIRC 97-1, passed 1-15-1997)