N.Y. Uniform Commercial Code Law § 8-307: Purchaser's Right to Requisites for Registration of Transfer

Section 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.