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 Section 75-8-404 or a claim to a new security certificate under Section 75-8-405.
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 8 - Uniform Commercial Code-Revised Article 8. Investment Securities
§ 75-8-401. Duty of issuer to register transfer
§ 75-8-402. Assurance that indorsement or instruction is effective
§ 75-8-403. Demand that issuer not register transfer
§ 75-8-404. Wrongful registration
§ 75-8-405. Replacement of lost, destroyed, or wrongfully taken security certificate
§ 75-8-406. Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate
§ 75-8-407. Authenticating trustee, transfer agent, and registrar