{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-8-403","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-8-403","heading":"Demand that Issuer not Register Transfer","body":"Demand that Issuer not Register Transfer.\n\n(a) A person who is an appropriate person to make an\n\nindorsement or originate an instruction may demand that the issuer\n\nnot register transfer of a security by communicating to the issuer a\n\nnotification that identifies the registered owner and the issue of\n\nwhich the security is a part and provides an address for\n\ncommunications directed to the person making the demand. The demand\n\nis effective only if it is received by the issuer at a time and in a\n\nmanner affording the issuer reasonable opportunity to act on it.\n\n(b) If a certificated security in registered form is presented\n\nto an issuer with a request to register transfer or an instruction\n\nis presented to an issuer with a request to register transfer of an\n\nuncertificated security after a demand that the issuer not register\n\ntransfer has become effective, the issuer shall promptly communicate\n\nto (i) the person who initiated the demand at the address provided\n\nin the demand and (ii) the person who presented the security for\n\nregistration of transfer or initiated the instruction requesting\n\nregistration of transfer a notification stating that:\n\n(1) the certificated security has been presented for\n\nregistration of transfer or instruction for\n\nregistration of transfer of the uncertificated\n\nsecurity has been received;\n\n(2) a demand that the issuer not register transfer had\n\npreviously been received; and\n\n(3) the issuer will withhold registration of transfer for\n\na period of time stated in the notification in order\n\nto provide the person who initiated the demand an\n\nopportunity to obtain legal process or an indemnity\n\nbond.\n\n(c) The period described in paragraph (3) of subsection (b) of\n\nthis section may not exceed thirty (30) days after the date of\n\ncommunication of the notification. A shorter period may be\n\nspecified by the issuer if it is not manifestly unreasonable.\n\n(d) An issuer is not liable to a person who initiated a demand\n\nthat the issuer not register transfer for any loss the person\n\nsuffers as a result of registration of a transfer pursuant to an\n\neffective indorsement or instruction if the person who initiated the\n\ndemand does not, within the time stated in the issuer's\n\ncommunication, either:\n\n(1) obtain an appropriate restraining order, injunction,\n\nor other process from a court of competent\n\njurisdiction enjoining the issuer from registering the\n\ntransfer; or\n\n(2) file with the issuer an indemnity bond, sufficient in\n\nthe issuer's judgment to protect the issuer and any\n\ntransfer agent, registrar, or other agent of the\n\nissuer involved from any loss it or they may suffer by\n\nrefusing to register the transfer.\n\n(e) This section does not relieve an issuer from liability for\n\nregistering transfer pursuant to an indorsement or instruction that\n\nwas not effective.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"892ae74c61fd38ff8ba035172fe23304ae229ff1fc5930350c9c1fe09e7af423","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-8-402","next":"us-ok/okla.-stat.-tit.-12a-12a-8-404"},"notice":"GroundRules: Original legal text. Not legal advice."}