(760 ILCS 70/4) (from Ch. 32, par. 439.53)
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.
(Source: Laws 1961, p. 2433.)
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