U.C.C. - ARTICLE 8 - INVESTMENT SECURITIES
..PART 3. TRANSFER
§ 8-305. Staleness as Notice of Adverse Claims.
An act or event that creates a right to immediate performance of the principal obligation represented by a certificated security or sets a date on or after which a certificated security is to be presented or surrendered for redemption or exchange does not itself constitute any notice of adverse claims except in the case of a transfer:
- (a) after one year from any date set for presentment or surrender for redemption or exchange; or
- (b) after 6 months from any date set for payment of money against presentation or surrender of the security if funds are available for payment on that date.
As amended in 1977.
See Appendix I for material relating to changes made in text in 1977.
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