South Carolina Statutes
§ 36-8-307 — Registration of transfer of security; proof of authority to transfer.
(A)Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with other documentation necessary to obtain registration of the transfer of the security. If the transferor fails to comply with the demand within a reasonable time, the purchaser may reject or rescind the transfer.
(B)If the transfer is not for value, a transferor is not required to comply with subsection (A) unless the purchaser pays the necessary expense.
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South Carolina § 36-8-307 (Registration of transfer of security; proof of authority to transfer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2004 Act No. 221, SECTION 7, eff April 29, 2004. Part 4 Registration
Nearby Sections
15
§ 36-8-101
Short title.§ 36-8-102
Definitions.§ 36-8-103
Rules for determining whether certain obligations and interests are securities or financial assets.§ 36-8-105
Notice of adverse claim.§ 36-8-106
Control.§ 36-8-108
Warranties in direct holding.§ 36-8-109
Warranties in indirect holding.§ 36-8-110
Applicability; choice of law.§ 36-8-111
Clearing corporation rules.§ 36-8-112
Creditor's legal process.§ 36-8-113
Statute of frauds inapplicable.