Sec. 4. Adverse claims.
82 words·~1 min read·
/il/chapter-760/act-70/4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 4. Adverse claims.
If a person having or asserting a claim of beneficial interest adverse to the transfer of a security from a fiduciary delivers written notice of the claim to the corporation before the transfer, the corporation shall promptly notify the claimant by registered mail of the presentation of the security for transfer. The corporation shall withhold the transfer for 30 days after sending the notice and shall then make the transfer unless it is restrained by a court order.