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The DC Code: § 28-2905 Adverse claims.

Index28 Commercial Instruments and Transactions. (Refs & Annos)
a
A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may notify in writing the corporation or transfer agent of the claim. The corporation or transfer agent is not put on notice unless the written notice (1) identifies the claimant, the registered owner, and the issue of which the security is a part, (2) provides an address for communications directed to the claimant, and (3) is received before the transfer. This chapter does not relieve the corporation or transfer agent of any liability for making or refusing to make the transfer after it is so put on notice, unless it proceeds in the manner authorized by subsection (b).
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 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.

Historical and Statutory

Prior Codifications 1981 Ed., § 28-2905. 1973 Ed., § 28-2905. Uniform Law This section is based upon § 5 of the Uniform Act for Simplification of Fiduciary Security Transfers. See 7C Uniform Laws Annotated, Master Edition, or ULA Database on Westlaw. DC CODE § 28-2905 Current through December 11, 2012

Credits

(Aug. 30, 1964, 78 Stat. 673, Pub. L. 88-509, § 1.)