Cite as: 80 CNCA § 8-406

Obligation to Notify Issuer or 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 80 CNCA § 8–404 or a claim to a new security certificate under 80 CNCA § 8–405.

Historical Data

LA 26–03, eff. October 2, 2003.