O.C.G.A.

O.C.G.A. § 11-8-406 (2019)

Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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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 Code Section 11-8-404 or a claim to a new security certificate under Code Section 11-8-405.

History

Code 1981, § 11-8-406, enacted by Ga. L. 1998, p. 1323, § 1.

Annotations

RESEARCH REFERENCES U.L.A. Uniform Commercial Code (U.L.A.) § 8406.

Notes of Decisions

Cited in 3 cases (1 in the last 5 years), 2000–2026 · leading case: Dudley v. Wachovia Bank, N.A., 659 S.E.2d 658 (Ga. Ct. App. 2008).

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Dudley v. Wachovia Bank, N.A., 659 S.E.2d 658 (Ga. Ct. App. 2008). · cites it 2× “8 See OCGA §§ 11-8-406 (UCC § 8-406, formerly UCC § 8-405 (1)) (providing an exception in certain cases of lost, apparently destroyed, or wrongfully taken security certificates); 11-8-407 (providing that a transfer agent “has the same obligation to the holder or owner of a…”

Neidiger/Tucker/Bruner, Inc. v. Suntrust Bank, 530 S.E.2d 18 (Ga. Ct. App. 2000). · cites it 4× “The transfer agent may also be liable under OCGA § 11-8-204 via OCGA § 11-8-406 which imposes a duty upon the transfer agent co-extensive with that of the issuer.”

Equitymax, Inc. v. Parkway Law Grp. LLC (N.D. Ga. 2026). · cites it 4× “§ 11-8-204 and O.C.G.A. § 11-8-406 imposed a “specific [statutory] duty on those who prepare and issue stock certificates to accurately disclose restrictions on the transfer of the shares” to “person[s] without knowledge of the restriction.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.