New Mexico § 55-8-405 Replacement of lost, destroyed or wrongfully taken

New Mexico Statutes

§ 55-8-405 — Replacement of lost, destroyed or wrongfully taken

New Mexico § 55-8-405

Ch. 55Uniform Commercial Code

Art. 8Investment Securities

This text of New Mexico § 55-8-405 (Replacement of lost, destroyed or wrongfully taken) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 55-8-405 (2026).

Text

security certificate.

(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 Section 55-8-210 NMSA 1978. In addition to any rights on th

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security certificate. (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 Section 55-8-210 NMSA 1978. 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.