11 §8-1406. Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate - Maine Statutes

Title 11: UNIFORM COMMERCIAL CODE

Article 8-A: INVESTMENT SECURITIES HEADING: PL 1997, C. 429, PT. B, §2 (NEW)

Part 4: REGISTRATION HEADING: PL 1997, C. 429, PT. B, §2 (NEW)

§8-1406. 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 8-1404 or a claim to a new security certificate under Section 8-1405. [1997, c. 429, Pt. B, §2 (NEW).]

SECTION HISTORY

1997, c. 429, §B2 (NEW).