47-8-406 - Obligation to issuer of destroyed, or wrongfully taken security certificate. - Tennessee Statutes

47-8-406. Obligation to issuer of 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 § 47-8-404 or a claim to a new security certificate under § 47-8-405.

[Acts 1997, ch. 79, § 1.]