§12A-8-404.

§12A-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 (a) of Section 8-403 of this title and the
   issuer did not comply with subsection (b) of Section 8-403 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.