§ 18-11-6 Adverse claims. (a) A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim. The corporation or transfer agent is not put on notice unless the written notice identifies the claimant, the registered owner, and the issue of which the security is a part, provides an address for communications directed to the claimant, and is received before the transfer. Nothing in this chapter relieves the corporation or transfer agent of any liability for making or refusing to make the transfer after it is put on notice, unless it proceeds in the manner authorized in subsection (b) of this section.
(b) As soon as practicable after the presentation of a
security for transfer pursuant to an assignment by a fiduciary, a corporation
or transfer agent which has received notice of a claim of beneficial interest
adverse to the transfer may send notice of the presentation by registered or
certified mail to the claimant at the address given by the claimant. If the
corporation or transfer agent mails the notice, it shall withhold the transfer
for thirty (30) days after the mailing and shall then make the transfer unless
restrained by a court order.
(P.L. 1959, ch. 85, § 6.)