Indiana § 26-1-8.1-210 Overissue of security; refund in the event of unavailability of security

Indiana Statutes

§ 26-1-8.1-210 — Overissue of security; refund in the event of unavailability of security

Indiana § 26-1-8.1-210

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 8.1Investment Securities

This text of Indiana § 26-1-8.1-210 (Overissue of security; refund in the event of unavailability of security) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-8.1-210 (2026).

Text

(a)In this section, "overissue" means the issue of securities in excess of the amount the issuer has corporate power to issue, but an overissue does not occur if appropriate action has cured the overissue.

(b)Except as otherwise provided in subsections (c) and (d), the provisions of IC 26-1-8.1 which validate a security or compel its issue or reissue do not apply to the extent that validation, issue, or reissue would result in overissue.

(c)If an identical security not constituting an overissue is reasonably available for purchase, a person entitled to issue or validation may compel the issuer to purchase the security and deliver it if certificated or register its transfer if uncertificated, against surrender of any security certificate the person holds.

(d)If a security is not reasona

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(a) In this section, "overissue" means the
issue of securities in excess of the amount the issuer has corporate
power to issue, but an overissue does not occur if appropriate action
has cured the overissue.
(b) Except as otherwise provided in subsections (c) and (d), the
provisions of IC 26-1-8.1 which validate a security or compel its issue
or reissue do not apply to the extent that validation, issue, or reissue
would result in overissue.
(c) If an identical security not constituting an overissue is
reasonably available for purchase, a person entitled to issue or
validation may compel the issuer to purchase the security and deliver
it if certificated or register its transfer if uncertificated, against
surrender of any security certificate the person holds.
(d) If a security is not reasonably available for purchase, a person
entitled to issue or validation may recover from the issuer the price the
person or the last purchaser for value paid for it with interest from the
date of the person's demand.