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 41-08-37 or a claim to a new security certificate under section 41-08-38.
N.D. Cent. Code § 41-08-39
(8-406) Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate
Known as the Uniform Commercial Code
The act spans §§ 41–41 (597 sections).
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.