Kansas § 84-8-404 Wrongful registration

Kansas Statutes

§ 84-8-404 — Wrongful registration

Kansas § 84-8-404

Ch. 84UNIFORM COMMERCIAL CODE

Art. 8INVESTMENT SECURITIES

This text of Kansas § 84-8-404 (Wrongful registration) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 84-8-404 (2026).

Text

(a)Except as otherwise provided in K.S.A. 84-8-406, an issuer is liable for wrongful registration of transfer if the issuer has registered a transfer of a security to a person not entitled to it, and the transfer was registered:

(1)Pursuant to an ineffective indorsement or instruction;

(2)after a demand that the issuer not register transfer became effective under subsection (a) of K.S.A. 84-8-403 and the issuer did not comply with subsection (b) of K.S.A. 84-8-403;

(3)after the issuer had been served with an injunction, restraining order or other legal process enjoining it from registering the transfer, issued by a court of competent jurisdiction, and the issuer had a reasonable opportunity to act on the injunction, restraining order or other legal process; or

(4)by an issuer acting i

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(a) Except as otherwise provided in K.S.A. 84-8-406, an issuer is liable for wrongful registration of transfer if the issuer has registered a transfer of a security to a person not entitled to it, and the transfer was registered:
(1) Pursuant to an ineffective indorsement or instruction;
(2) after a demand that the issuer not register transfer became effective under subsection (a) of K.S.A. 84-8-403 and the issuer did not comply with subsection (b) of K.S.A. 84-8-403;
(3) after the issuer had been served with an injunction, restraining order or other legal process enjoining it from registering the transfer, issued by a court of competent jurisdiction, and the issuer had a reasonable opportunity to act on the injunction, restraining order or other legal process; or
(4) by an issuer acting in collusion with the wrongdoer.
(b) An issuer that is liable for wrongful registration of transfer under subsection (a) on demand shall provide the person entitled to the security with a like certificated or uncertificated security, and any payments or distributions that the person did not receive as a result of the wrongful registration. If an overissue would result, the issuer's liability to provide the person with a like security is governed by K.S.A. 84-8-210.
(c) Except as otherwise provided in subsection (a) or in a law relating to the collection of taxes, an issuer is not liable to an owner or other person suffering loss as a result of the registration of a transfer of a security if registration was made pursuant to an effective indorsement or instruction.