Section 440.8405 – Lost, Destroyed, or Wrongfully Taken Securities.
440.8405 Lost, destroyed, or wrongfully taken securities. Sec. 8405. (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 does all of the following: (a) Requests before the issuer has […]
Section 440.8406 – Lost, Destroyed, or Wrongfully Taken Security Certificate; Failure to Notify Issuer.
440.8406 Lost, destroyed, or wrongfully taken security certificate; failure to notify issuer. Sec. 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 […]
Section 440.8407 – Authenticating Trustee, Transfer Agent, Registrar, or Other Agent; Obligation to Holder or Owner of Certificate.
440.8407 Authenticating trustee, transfer agent, registrar, or other agent; obligation to holder or owner of certificate. Sec. 8407. A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its securities, in the issue of new security certificates or uncertificated securities, or in the […]
Section 440.8408 – Repealed. 1998, Act 278, Imd. Eff. July 27, 1998.
440.8408 Repealed. 1998, Act 278, Imd. Eff. July 27, 1998. Compiler’s Notes: The repealed section pertained to written statements sent by issuer to new registered owner.
Section 440.8404 – Liability of Issuer for Wrongful Registration or Transfer.
440.8404 Liability of issuer for wrongful registration or transfer. Sec. 8404. (1) Except as otherwise provided in section 8406, 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 in 1 or more of […]
Section 440.8401 – Registration of Transfer; Duty and Liability of Issuer.
440.8401 Registration of transfer; duty and liability of issuer. Sec. 8401. (1) If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as […]
Section 440.8402 – Indorsement as Genuine and Authorized; Assurance; Definitions.
440.8402 Indorsement as genuine and authorized; assurance; definitions. Sec. 8402. (1) The issuer may require the following assurance that each necessary indorsement or each instruction is genuine and authorized: (a) In all cases, a guarantee of the signature of the person making an indorsement or originating an instruction including, in the case of an instruction, […]
Section 440.8403 – Demand; Effect; Notification; Period of Time; Liability of Issuer.
440.8403 Demand; effect; notification; period of time; liability of issuer. Sec. 8403. (1) A person who is an appropriate person to make an indorsement or originate an instruction may demand that the issuer not register transfer of a security by communicating to the issuer a notification that identifies the registered owner and the issue of […]