N.Y. U.C.C. Law § 8-406

Current through 2024 NY Law Chapters 1-59 and 61-121

Section 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 8-404 or a claim to a new security certificate under Section 8-405.

N.Y. U.c.c. Law § 8-406