§ 25‑8‑406.  Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate.
If a security certificate has been lost, apparently destroyed, or wrongfully taken, and the owner fails to notify the issuer of that fact within a reasonable time after the owner has notice of it and the issuer registers a transfer of the security before receiving notification, the owner may not assert against the issuer a claim for registering the transfer under G.S. 25‑8‑404 or a claim to a new security certificate under G.S. 25‑8‑405. (1965, c. 700, s. 1; 1989, c. 588, s. 1; 1997‑181, s. 1.)