WVC 31 - 4 D- 5
§31-4D-5. Adverse claims.
(a) A person asserting a claim of beneficial interest
adverse to the transfer of a security pursuant to an assignment
by a fiduciary may give the corporation or transfer agent written
notice of the claim. The corporation or transfer agent is not
put on notice unless the written notice identifies the claimant,
the registered owner and the issue of which the security is a
part, provides an address for communications directed to the
claimant and is received before the transfer. Nothing in this
article relieves 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 in
(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.
Note: WV Code updated with legislation passed through the 2015 Regular Session
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