Section 8-406: Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate
Section 8–406. 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.