§ 25-8-307. Purchaser's right to requisites for registration of transfer. - North Carolina Statutes

§25‑8‑307.  Purchaser's right to requisites for registration oftransfer.

Unless otherwise agreed, thetransferor of a security on due demand shall supply the purchaser with proof ofauthority to transfer or with any other requisite necessary to obtain registrationof the transfer of the security, but if the transfer is not for value, atransferor need not comply unless the purchaser pays the necessary expenses. Ifthe transferor fails within a reasonable time to comply with the demand, thepurchaser may reject or rescind the transfer. (1899, c. 733, s. 49; Rev.,s. 2198; C.S., s. 3030; 1941, c. 353, s. 9; G.S., s. 55‑89; 1955, c.1371, s. 2; 1965, c. 700, s. 1; 1989, c. 588, s. 1; 1997‑181, s. 1.)