26-5-106 - Transfer of corporate stock.
26-5-106. Transfer of corporate stock.
(a) Upon the sale of corporate stock or shares by execution, the officer, on receiving from the purchaser the amount of the purchaser's bid, shall execute and deliver to the purchaser an assignment of the certificate of shares sold.
(b) The officer's return of the sale on the back of the execution shall be notice to all the world of the fact of sale.
(c) On presentation to the proper officer of the company of such assignment, the officer shall transfer the shares on the proper book, to the purchaser or assignee.
[Code 1858, § 3053 (deriv. Acts 1857-1858 Private, ch. 163, § 16); Shan., § 4780; mod. Code 1932, § 8910; T.C.A. (orig. ed.), § 26-706.]