84-8-406. 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 K.S.A. 84-8-404 or a claim to a new security certificate under K.S.A. 84-8-405.
History: L. 1996, ch. 202, § 66; July 1.
2015. Powered by KLISS. Rendered: 2015-03-26T18:45:04. Head Rev No: 351364