Sec. 8.406. OBLIGATION TO NOTIFY ISSUER OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE. 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 8.404 or a claim to a new security certificate under Section 8.405.
Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
Section 8.401. Duty of Issuer to Register Transfer
Section 8.402. Assurance That Indorsement or Instruction Is Effective
Section 8.403. Demand That Issuer Not Register Transfer
Section 8.404. Wrongful Registration
Section 8.405. Replacement of Lost, Destroyed, or Wrongfully Taken Security Certificate
Section 8.407. Authenticating Trustee, Transfer Agent, and Registrar