Effective - 28 Aug 1997
400.8-406. 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 400.8-404 or a claim to a new security certificate under section 400.8-405.
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(L. 1963 p. 503 § 8-406, A.L. 1992 S.B. 448, A.L. 1997 S.B. 6)