§ 12A-8-405.1. Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate.  


Latest version.
  • 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.