§12A-8-405.1. Obligation to Notify Issuer of Lost, Destroyed, or
108 words·~1 min read·
/ok/title-12a-uniform-commercial-code/12a-8-405-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Wrongfully Taken Security Certificate.
Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate.
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 8-404 of this title or a claim to a new security certificate under Section 8-405 of this title. Added by Laws 1995, c. 242, § 39, eff. Feb. 1, 1996.