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. CHAPTER 84 REGISTRATION Sec. 8401. Duty of issuer to register transfer. 8402. Assurance that indorsement or instruction is effective. 8403. Demand that issuer not register transfer. 8404. Wrongful registration. 8405. Replacement of lost, destroyed or wrongfully taken security certificate. 8406. Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate. 8407. Authenticating trustee, transfer agent and registrar. Prior Provisions. Former Chapter 84, which related to the same subject matter, was added November 1, 1979, P.L.255, No.86, and repealed May 22, 1996, P.L.248, No.44, effective in 180 days.
‹ Prev All Pennsylvania sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.