Alabama § 7-8-406 Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate

Alabama Statutes

§ 7-8-406 — Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate

Alabama § 7-8-406

Title 7Commercial Code

Art. 8Investment Securities

Part 4Registration

This text of Alabama § 7-8-406 (Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 7-8-406 (2026).

Text

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 7-8-404 or a claim to a new security certificate under Section 7-8-405.

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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 7-8-404 or a claim to a new security certificate under Section 7-8-405.