Illinois Code § 810 ILCS 5/8-406

Obligation to notify issuer of lost, destroyed, or wrongfully
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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 Section 8-404 or a claim to a new security
certificate under Section 8-405.

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