Section 45.08.406. Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate.

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If a security certificate has been lost, apparently destroyed, or wrongfully taken, the owner fails to notify the issuer of the loss, destruction, or taking within a reasonable time after the owner has notice of the loss, destruction, or taking, 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 AS 45.08.404 or a claim to a new security certificate under AS 45.08.405.

Authorities

45.08.404

Notes

References

AS 45.08.404 Wrongful registration.

History

(Sec. 8.406 ch 114 SLA 1962; am Sec. 51 ch 49 SLA 1990; am Sec. 45 ch 17 SLA 1996)

                    
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