336.8-406 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-406 OBLIGATION TO NOTIFY ISSUER OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE.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 336.8-404 or a claim to a new security certificate under section 336.8-405.
History:1995 c 194 art 1 s 39