Legislation

Section 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 Section 8--404 or a claim to a new security certificate
under Section 8--405.