Commercial Code section 8406

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 Section 8404 or a claim to a new security certificate under Section 8405.

Source: Section 8406, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=COM§ionNum=8406.­ (updated Jan. 1, 1997; accessed Jul. 14, 2025).

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Verified:
Jul. 14, 2025

§ 8406's source at ca​.gov