70A-8-307 - Purchaser's right to requisites for registration of transfer.
70A-8-307. Purchaser's right to requisites for registration of transfer.
Unless otherwise agreed, the transferor of a security on due demand shall supply thepurchaser with proof of authority to transfer or with any other requisite necessary to obtainregistration of the transfer of the security, but if the transfer is not for value, a transferor need notcomply unless the purchaser pays the necessary expenses. If the transferor fails within areasonable time to comply with the demand, the purchaser may reject or rescind the transfer.
Repealed and Re-enacted by Chapter 204, 1996 General Session