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 KRS 355.8-404 or a claim to a new security certificate under KRS 355.8-405.
KRS 355.8-406
Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate
Known as the Uniform Commercial Code
The act spans §§ 355.10-101 to 355.9-809 (686 sections).
Effective: January 1, 1997 History: Repealed and reenacted 1996 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.