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 § 4-8-404 or a claim to a new security certificate under § 4-8-405.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
§ 4-8-401. Duty of issuer to register transfer
§ 4-8-402. Assurance that indorsement or instruction is effective
§ 4-8-403. Demand that issuer not register transfer
§ 4-8-404. Wrongful registration
§ 4-8-405. Replacement of lost, destroyed, or wrongfully taken security certificate
§ 4-8-406. Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate
§ 4-8-407. Authenticating trustee, transfer agent, and registrar