2746

LAWS OF MARYLAND

Ch. 720

8-403(4)) TO WHICH THE UNCERTIFICATED SECURITY WAS SUBJECT. THE
CERTIFICATED SECURITY SHALL BE REGISTERED IN THE NAME OF AND
DELIVERED TO:

(A)  THE REGISTERED OWNER, IF THE UNCERTIFICATED
SECURITY WAS NOT SUBJECT TO A REGISTERED PLEDGE; OR

(B)  THE REGISTERED PLEDGEE, IF THE UNCERTIFICATED
SECURITY WAS SUBJECT TO A REGISTERED PLEDGE.

8-408.

(1)  WITHIN 2 BUSINESS DAYS AFTER THE TRANSFER OF AN
UNCERTIFICATED SECURITY HAS BEEN REGISTERED, THE ISSUER SHALL
SEND TO THE NEW REGISTERED OWNER AND, IF THE SECURITY HAS BEEN
TRANSFERRED SUBJECT TO A REGISTERED PLEDGE, TO THE REGISTERED
PLEDGEE A WRITTEN STATEMENT CONTAINING:

(A)  A DESCRIPTION OF THE ISSUE OF WHICH THE
UNCERTIFICATED SECURITY IS A PART;

(B)  THE NUMBER OF SHARES OR UNITS TRANSFERRED;

(C)  THE NAME AND ADDRESS AND ANY TAXPAYER
IDENTIFICATION NUMBER OF THE NEW REGISTERED OWNER AND, IF THE
SECURITY HAS BEEN TRANSFERRED SUBJECT TO A REGISTERED PLEDGE, THE
NAME AND ADDRESS AND ANY TAXPAYER IDENTIFICATION NUMBER OF THE
REGISTERED PLEDGEE;

(D)  A NOTATION OF ANY LIENS AND RESTRICTIONS OF THE
ISSUER AND ANY ADVERSE CLAIMS (AS TO WHICH THE ISSUER HAS A DUTY
UNDER § 8-403(4)) TO WHICH THE UNCERTIFICATED SECURITY IS OR MAY
BE SUBJECT AT THE TIME OF REGISTRATION OR A STATEMENT THAT THERE
ARE NONE OF THOSE LIENS, RESTRICTIONS OR ADVERSE CLAIMS; AND

(E)  THE DATE THE TRANSFER WAS REGISTERED.

(2)  WITHIN 2 BUSINESS DAYS AFTER THE PLEDGE OF AN
UNCERTIFICATED SECURITY HAS BEEN REGISTERED, THE ISSUER SHALL
SEND TO THE REGISTERED OWNER AND THE REGISTERED PLEDGEE A WRITTEN
STATEMENT CONTAINING:

(A)  A DESCRIPTION OF THE ISSUE OF WHICH THE
UNCERTIFICATED SECURITY IS A PART;

(B)  THE NUMBER OF SHARES OR UNITS PLEDGED;

(C)  THE NAME AND ADDRESS AND ANY TAXPAYER
IDENTIFICATION NUMBER OF THE REGISTERED OWNER AND THE REGISTERED
PLEDGEE;

(D)  A NOTATION OF ANY LIENS AND RESTRICTIONS OF THE
ISSUER AND ANY ADVERSE CLAIMS (AS TO WHICH THE ISSUER HAS A DUTY
UNDER § 8-403(4)) TO WHICH THE UNCERTIFICATED SECURITY IS OR MAY