D.C. Code § 41-157.03
This is the official text of D.C. Code § 41-157.03, part of District of Columbia’s Code — part of the compiled statutory law of District of Columbia, published by the state as "Code." Browse the sections below, each linked to its official government source.
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§ 41-157.03. Recovery of securities or value by owner.
Official statutory text
(a) If the Administrator sells a security before the expiration of 60 days after delivery of the security to the Administrator, an apparent owner that files a valid claim under this chapter of ownership of the security before the 60-day period expires is entitled, at the option of the Administrator, to receive:
(1) Replacement of the security; or
(2) The market value of the security at the time the claim is filed, plus dividends, interest, and other increments on the security up to the time the claim is paid.
(b) Replacement of the security or calculation of market value under subsection (a) of this section shall take into account a stock split, reverse stock split, stock dividend, or similar corporate action.
(c) A person that makes a valid claim under this chapter of ownership of a security after expiration of 60 days after delivery of the security to the Administrator is entitled to receive:
(1) The security the holder delivered to the Administrator, if it is in the custody of the Administrator, plus dividends, interest, and other increments on the security up to the time the Administrator delivers the security to the person; or
(2) The net proceeds of the sale of the security, plus dividends, interest, and other increments on the security up to the time the security was sold.
(1) Replacement of the security; or
(2) The market value of the security at the time the claim is filed, plus dividends, interest, and other increments on the security up to the time the claim is paid.
(b) Replacement of the security or calculation of market value under subsection (a) of this section shall take into account a stock split, reverse stock split, stock dividend, or similar corporate action.
(c) A person that makes a valid claim under this chapter of ownership of a security after expiration of 60 days after delivery of the security to the Administrator is entitled to receive:
(1) The security the holder delivered to the Administrator, if it is in the custody of the Administrator, plus dividends, interest, and other increments on the security up to the time the Administrator delivers the security to the person; or
(2) The net proceeds of the sale of the security, plus dividends, interest, and other increments on the security up to the time the security was sold.
Status: in_force · Read it on the official government site
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