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.
Structure 2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 8 - Investment Securities
§ 47-8-402. Assurance That Endorsement or Instruction Is Effective
§ 47-8-406. Obligation to Issuer of Destroyed, or Wrongfully Taken Security Certificate
§ 47-8-407. Authenticating Trustee, Transfer Agent, and Registrar