Section 55-8-10 - Claim of beneficial interest adverse to transfer of security--Notice of presentment toclaimant--Restraining order. - South Dakota Statutes

55-8-10. Claim of beneficial interest adverse to transfer of security--Notice of presentment to claimant--Restraining order. 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 him. If the corporation or transfer agent so mails such a notice it shall withhold the transfer for thirty days after the mailing and shall then make the transfer unless restrained by a court order.

Source: SL 1961, ch 22, § 5 (2).