1. In this section, “overissue” means the issue of securities in excess of the amount the issuer has corporate power to issue, but an overissue does not occur ifappropriate action has cured the overissue. 2. Except as otherwise provided in subsections 3 and 4,the provisions ofthis Article which validate a security or compel itsissue or reissue do not apply to the extent that validation, issue, or reissue would result in overissue. 3. If an identical security not constituting an overissue is reasonably available for purchase, a person entitled to issue or validation may compel the issuer to purchase the security and deliver itifcertificated or register its transfer ifuncertificated, against surrender of any security certificate the person holds. 4. If a security is not reasonably available for purchase, a person entitled to issue or validation may recover from the issuer the price the person or the last purchaser for value paid for itwith interest from the date of the person’s demand.
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