Vermont § 404 - § 8—404.
Full text of Vermont Vermont Statutes Online § 404 — § 8—404., with citation guidance and answers to common questions.
§ 404. § 8—404.
- Wrongful registration (a) Except as otherwise provided in section 8—406 of this title, 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: (1) pursuant to an ineffective indorsement or instruction; (2) after a demand that the issuer not register transfer became effective under subsection 8—403(a) of this title and the issuer did not comply with subsection 8—403(b) of this title; (3) after the issuer had been served with an injunction, restraining order, or other legal
process enjoining it from registering the transfer, issued by a court of competent
jurisdiction, and the issuer had a reasonable opportunity to act on the injunction,
restraining order, or other legal process; or (4) by an issuer acting in collusion with the wrongdoer. (b) An issuer that is liable for wrongful registration of transfer under subsection (a)
of this section on demand shall provide the person entitled to the security with a
like certificated or uncertificated security, and any payments or distributions that
the person did not receive as a result of the wrongful registration. If an overissue
would result, the issuer’s liability to provide the person with a like security is
governed by section 8—210 of this title. (c) Except as otherwise provided in subsection (a) of this section or in a law relating
to the collection of taxes, an issuer is not liable to an owner or other person suffering
loss as a result of the registration of a transfer of a security if registration was
made pursuant to an effective indorsement or instruction. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)
Frequently Asked Questions About Vermont § 404
What does Vermont Statutes Online § 404 cover?
Section 404 ("§ 8—404.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 404?
A common citation format is "Vermont Statutes Online § 404" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 404 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.