Sec. 203. After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by a certificated security or setting a date on or after which the security is to be presented or surrendered for redemption or exchange, a purchaser is charged with notice of any defect in its issue or defense of the issuer, if the act or event:
(1) requires the payment of money, the delivery of a certificated security, the registration of transfer of an uncertificated security, or any of them on presentation or surrender of the security certificate, the money or security is available on the date set for payment or exchange, and the purchaser takes the security more than one (1) year after that date; or
(2) is not covered by subdivision (1) and the purchaser takes the security more than two (2) years after the date set for surrender or presentation or the date on which performance became due.
As added by P.L.247-1995, SEC.10.
Structure Indiana Code
Article 1. Uniform Commercial Code
Chapter 8.1. Investment Securities
26-1-8.1-0.1. Effect of Enactment of Chapter
26-1-8.1-0.3. Perfection of Certain Security Interests; Continuation of Perfection
26-1-8.1-102. Definitions; Rules of Construction
26-1-8.1-103. Classification as Security or Financial Asset
26-1-8.1-104. Acquisition of a Security or Financial Asset
26-1-8.1-105. Notice of Adverse Claim
26-1-8.1-106. Control of Securities
26-1-8.1-107. Effectiveness of Endorsement, Instruction, or Entitlement Order
26-1-8.1-108. Warranties Upon Purchase or Transfer of Security
26-1-8.1-109. Warranties Made by and to a Securities Intermediary
26-1-8.1-110. Applicability of Local Law; Determination of Jurisdiction
26-1-8.1-111. Applicability of Rules Adopted by Clearing Corporations
26-1-8.1-112. Creditor Access to Debtor's Interest in a Security
26-1-8.1-113. Enforceability of Contracts for Sale or Purchase of a Security
26-1-8.1-114. Special Rules in Actions Against Issuers of a Certificated Security
26-1-8.1-115. Liability of Securities Intermediary, Broker, or Other Agent or Bailee
26-1-8.1-116. Determination of Securities Intermediary as Purchaser for Value
26-1-8.1-201. "Issuer" Defined
26-1-8.1-202. Terms of Security; Rules on Validity; Issuer's Defenses; Cancellation of Contracts
26-1-8.1-203. Notice of Defects
26-1-8.1-204. Restrictions on Transfer
26-1-8.1-205. Effect of Unauthorized Signature or Certificate
26-1-8.1-206. Enforceability of Incomplete or Incorrect Certificate
26-1-8.1-208. Warranties by Security Certificate Authenticating Signatory
26-1-8.1-210. Overissue of Security; Refund in the Event of Unavailability of Security
26-1-8.1-301. Delivery of Security
26-1-8.1-302. Rights Acquired by Purchaser
26-1-8.1-303. "Protected Purchaser" Defined; Acquisition of Interest Free of Adverse Claims
26-1-8.1-304. Endorsement of Securities
26-1-8.1-305. Incomplete Instructions; Obligations Imposed on Person Initiating Instructions
26-1-8.1-306. Warranties by Guarantor
26-1-8.1-307. Duties of Transferor of Security
26-1-8.1-401. Issuer's Duty to Register Transfer
26-1-8.1-402. Issuer's Right to Assurances
26-1-8.1-403. Demand That Transfer Not Be Registered; Notice; Contents; Liability
26-1-8.1-404. Issuer Liability for Wrongful Registration of Transfer
26-1-8.1-405. Issuance of New Certificates; Protected Purchasers
26-1-8.1-406. Failure to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Certificates
26-1-8.1-407. Obligations of Agents Acting on Behalf of Issuer
26-1-8.1-501. Acquisition of Security Entitlements
26-1-8.1-502. Adverse Claims Against Person Holding a Security Entitlement
26-1-8.1-504. Maintenance of Financial Assets by Securities Intermediary; Exempted Entity
26-1-8.1-505. Duty of Securities Intermediary to Obtain and Pay Distributions on Financial Assets
26-1-8.1-506. Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder
26-1-8.1-508. Duty of Securities Intermediary to Act at Direction of Entitlement Holder
26-1-8.1-509. Standards for Performance of Duties by Securities Intermediary
26-1-8.1-510. Purchaser for Value of Financial Asset or Security Entitlement; Adverse Claims