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.

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Terms Used In Kentucky Statutes 355.8-406


Effective: January 1, 1997
History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 152, effective January 1,
1997. — Amended 1986 Ky. Acts ch. 118, sec. 51, effective July 1, 1987. — Created
1958 Ky. Acts ch. 77, sec. 8-406, effective July 1, 1960.