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 Code Section 11-8-404 or a claim to a new security certificate under Code Section 11-8-405.
History. Code 1981, § 11-8-406 , enacted by Ga. L. 1998, p. 1323, § 1.
Structure Georgia Code
Article 8 - Investment Securities
§ 11-8-401. Duty of Issuer to Register Transfer
§ 11-8-402. Assurance That Indorsement or Instruction Is Effective
§ 11-8-403. Demand That Issuer Not Register Transfer
§ 11-8-404. Wrongful Registration
§ 11-8-405. Replacement of Lost, Destroyed, or Wrongfully Taken Security Certificate
§ 11-8-406. Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate
§ 11-8-407. Authenticating Trustee, Transfer Agent, and Registrar