The following rules apply in an action on a certificated security against the issuer:
Source: L. 96: Entire article R&RE, p. 215, § 2, effective July 1.
Editor's note: This section is similar to former § 4-8-105 as it existed prior to 1996.
This section adapts the rules of negotiable instruments law concerning procedure in actions on instruments, see Section 3-308, to actions on certificated securities governed by this Article. An "action on a security" includes any action or proceeding brought against the issuer to enforce a right or interest that is part of the security, such as an action to collect principal or interest or a dividend, or to establish a right to vote or to receive a new security under an exchange offer or plan of reorganization. This section applies only to certificated securities; actions on uncertificated securities are governed by general evidentiary principles.
Definitional Cross References:
"Action". Section 1-201(1)
"Burden of establishing". Section 1-201(8)
"Certificated security". Section 8-102(a)(4)
"Indorsement". Section 8-102(a)(11)
"Issuer". Section 8-201
"Presumed". Section 1-201(31)
"Security". Section 8-102(a)(15)
"Security certificate". Section 8-102(a)(16)
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 8 - Investment Securities
Part 1 - Short Title and General Matters
§ 4-8-104. Acquisition of Security or Financial Asset or Interest Therein
§ 4-8-105. Notice of Adverse Claim
§ 4-8-107. Whether Indorsement, Instruction, or Entitlement Order Is Effective
§ 4-8-108. Warranties in Direct Holding
§ 4-8-109. Warranties in Indirect Holding
§ 4-8-110. Applicability - Choice of Law
§ 4-8-111. Clearing Corporation Rules
§ 4-8-112. Creditor's Legal Process
§ 4-8-113. Statute of Frauds Inapplicable
§ 4-8-114. Evidentiary Rules Concerning Certificated Securities
§ 4-8-115. Securities Intermediary and Others Not Liable to Adverse Claimant