(810 ILCS 5/8-307) (from Ch. 26, par. 8-307)
Sec. 8-307.
Purchaser's right to requisites for
registration of transfer. Unless otherwise agreed, the transferor
of a security on due demand shall supply the purchaser with proof of
authority to transfer or with any other requisite necessary to obtain
registration of the transfer of the security, but if the transfer is not for
value, a transferor need not comply unless the purchaser pays the necessary
expenses. If the transferor fails within a reasonable time to comply with the
demand, the purchaser may reject or rescind the transfer.
(Source: P.A. 89-364, eff. 1-1-96.)
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