Wisconsin § 408.405 Replacement of lost, destroyed or wrongfully taken security certificate.

Wisconsin Statutes

§ 408.405 — Replacement of lost, destroyed or wrongfully taken security certificate.

Wisconsin § 408.405

Ch. 408Uniform commercial code — investment securities

Subch.subch. IV of ch. 408 SUBCHAPTER IV

REGISTRATION

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Bluebook

Wis. Stat. § 408.405 (2026).

Text

405
405(1) (1) 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:
405(1)(a) (a) So requests before the issuer has notice that the certificate has been acquired by a protected purchaser;
405(1)(b) (b) Files with the issuer a sufficient indemnity bond; and
405(1)(c) (c) Satisfies other reasonable requirements imposed by the issuer.
405(2) (2) 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 s. 408.21

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408.405
408.405(1) (1) 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:
408.405(1)(a) (a) So requests before the issuer has notice that the certificate has been acquired by a protected purchaser;
408.405(1)(b) (b) Files with the issuer a sufficient indemnity bond; and
408.405(1)(c) (c) Satisfies other reasonable requirements imposed by the issuer.
408.405(2) (2) 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 s. 408.210 . 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.