<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="8-406" title_number="8" title_name="Investment Securities" subtitle_number="4" subtitle_name="Registration">
  <text>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 § 8-404 of this subtitle or a claim to a new security certificate under § 8-405 of this subtitle.</text>
</section>
