§8-1406. Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate
83 words·~1 min read·
/me/title-11-uniform-commercial-code/8-1406A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If a security certificate has been lost, apparently destroyed or wrongfully taken, and the owner fails to notify the issuer of that fact within a reasonable time after the owner has notice of it and the issuer registers a transfer of the security before receiving notification, the owner may not assert against the issuer a claim for registering the transfer under Section 8‑1404 or a claim to a new security certificate under Section 8‑1405 . [PL 1997, c. 429, Pt. B, §2 (NEW).]