70A-8-406 - Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate.
70A-8-406. Obligation to notify issuer of lost, destroyed, or wrongfully takensecurity certificate.
If a security certificate has been lost, apparently destroyed, or wrongfully taken, and theowner fails to notify the issuer of that fact within the reasonable time after the owner has notice ofit and the issuer registers a transfer of the security before receiving notification, the owner maynot assert against the issuer a claim for registering the transfer under Section 70A-8-404 or aclaim to a new security certificate under Section 70A-8-405.
Repealed and Re-enacted by Chapter 204, 1996 General Session