Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any other requisite necessary to obtain registration of the transfer of the security, but if the transfer is not for value, a transferor need not comply unless the purchaser pays the necessary expenses. If the transferor fails within a reasonable time to comply with the demand, the purchaser may reject or rescind the transfer. [1961 c.726 §78.3070; 1985 c.676 §78.3070; 1995 c.328 §33]
Section: Previous 78.2100 78.3010 78.3020 78.3030 78.3040 78.3050 78.3060 78.3070 78.3080 78.3090 78.3100 78.3110 78.3120 78.3130 78.3140 NextLast modified: August 7, 2008