California Commercial Code

§ 8406

COM § 8406 Effective Jan 1, 1997Div. 8 · Ch. 4

Statute text

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 8404 or a claim to a new security certificate under Section 8405.

Legislative history

Repealed and added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.