§ 18-11-6. Adverse claims.
(a) A person asserting a claim of beneficial interest adverse to the transfer of a security
pursuant to an assignment by a fiduciary may give the corporation or transfer agent
written notice of the claim. The corporation or transfer agent is not put on notice
unless the written notice identifies the claimant, the registered owner, and the issue
of which the security is a part, provides an address for communications directed to
the claimant, and is received before the transfer. Nothing in this chapter relieves
the corporation or transfer agent of any liability for making or refusing to make
the transfer a
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§ 18-11-6. Adverse claims.
(a) A person asserting a claim of beneficial interest adverse to the transfer of a security
pursuant to an assignment by a fiduciary may give the corporation or transfer agent
written notice of the claim. The corporation or transfer agent is not put on notice
unless the written notice identifies the claimant, the registered owner, and the issue
of which the security is a part, provides an address for communications directed to
the claimant, and is received before the transfer. Nothing in this chapter relieves
the corporation or transfer agent of any liability for making or refusing to make
the transfer after it is put on notice, unless it proceeds in the manner authorized
in subsection (b) of this section.
(b) As soon as practicable after the presentation of a security for transfer pursuant
to an assignment by a fiduciary, a corporation or transfer agent which has received
notice of a claim of beneficial interest adverse to the transfer may send notice of
the presentation by registered or certified mail to the claimant at the address given
by the claimant. If the corporation or transfer agent mails the notice, it shall withhold
the transfer for thirty (30) days after the mailing and shall then make the transfer
unless restrained by a court order.