{"data":{"id":"us-az/a.r.s.-47-8404","jurisdiction":"us-az","citation":"A.R.S. § 47-8404","heading":"Wrongful registration","body":"A. Except as otherwise provided in section 47-8406, 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:\n\n1. Pursuant to an ineffective indorsement or instruction;\n\n2. After a demand that the issuer not register transfer became effective under section 47-8403, subsection A and the issuer did not comply with section 47-8403, subsection B;\n\n3. 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\n\n4. By an issuer acting in collusion with the wrongdoer.\n\nB. 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 47-8210.\n\nC. 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.","path":["Title 47 Weights and Measures"],"source_url":"https://www.azleg.gov/ars/47/08404.htm","current_through":"57th Legislature, 2nd Regular Session (effective 2027-01-01); mirror section count 24991","vintage":"2026-09-15","retrieved_at":"2026-09-26T04:29:04Z","sha256":"82e2e3b7f9ddc5107fa3a9c5020ad98920a1181d76746d5ca21f5060dbdf446a","source_id":"us-az","stale":false,"prev":"us-az/a.r.s.-47-8403","next":"us-az/a.r.s.-47-8405"},"notice":"GroundRules: Original legal text. Not legal advice."}