HARRY HUGHES, Governor

3751

RESTRICTIONS AND CLAIMS THAT WERE NOTED ON THE CERTIFICATED
SECURITY.

(3) ON RECEIPT OF A TRANSFER INSTRUCTION ORIGINATED BY AN
APPROPRIATE PERSON WHO SO REQUESTS, THE ISSUER OF AN
UNCERTIFICATED SECURITY SHALL CANCEL THE UNCERTIFICATED SECURITY
AND ISSUE AN EQUIVALENT CERTIFICATED SECURITY ON WHICH MUST BE
NOTED CONSPICUOUSLY 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 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;