Indiana § 26-1-8.1-405 Issuance of new certificates; protected purchasers

Indiana Statutes

§ 26-1-8.1-405 — Issuance of new certificates; protected purchasers

Indiana § 26-1-8.1-405

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 8.1Investment Securities

This text of Indiana § 26-1-8.1-405 (Issuance of new certificates; protected purchasers) 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 § 26-1-8.1-405 (2026).

Text

(a)If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed, or wrongfully taken, the issuer shall issue a new certificate if the owner:

(1)so requests before the issuer has notice that the certificate has been acquired by a protected purchaser;

(2)files with the issuer a sufficient indemnity bond; and

(3)satisfies other reasonable requirements imposed by the issuer.

(b)If, after the issue of a new security certificate, a protected purchaser of the original certificate presents it for registration of transfer, the issuer shall register the transfer unless an overissue would result. In that case, the issuer's liability is governed by IC 26-1-8.1-210. In addition to any rights on the indemnity bond, an issuer may

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If an owner of a certificated security,
whether in registered or bearer form, claims that the certificate has
been lost, destroyed, or wrongfully taken, the issuer shall issue a new
certificate if the owner:
(1) so requests before the issuer has notice that the certificate has
been acquired by a protected purchaser;
(2) files with the issuer a sufficient indemnity bond; and
(3) satisfies other reasonable requirements imposed by the issuer.
(b) If, after the issue of a new security certificate, a protected
purchaser of the original certificate presents it for registration of
transfer, the issuer shall register the transfer unless an overissue would
result. In that case, the issuer's liability is governed by IC 26-1-8.1-210.
In addition to any rights on the indemnity bond, an issuer may recover
the new certificate from a person to whom it was issued or any person
taking under that person, except a protected purchaser.