Title to dividends: holder on company books may retain declared dividend unless transferee registers transfer within prescribed period.

Title to dividends gives the person whose name is on the company's books the right to receive and retain declared dividends unless the transferee lodges the security and all documents required for registration with the company within fifteen days of the dividend becoming due; the company may pay the registered holder and the transferee retains rights to enforce claims against the transferor where registration is refused. Extensions of the lodging period are provided for death of transferee, loss of transfer deed, and postal delay.

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