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United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:8-203

A purchaser may be charged with notice of a defect or issuer defense if the security is taken too late after certain payment, redemption, surrender, or performance dates.

exchangenotice of defectredemptionsecurity transfer
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United States — Louisiana
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1 provisions
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“A purchaser may be charged with notice of a defect or issuer defense if the security is taken too late after certain payment, redemption, surrender, or performance dates.”

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RS 10:8-203

A purchaser may be charged with notice of a defect or issuer defense if the security is taken too late after certain payment, redemption, surrender, or performance dates.

Section 10:8-203

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§ 10:8-203RS 10:8-203Provision

A purchaser may be charged with notice of a defect or issuer defense if the security is taken too late after certain payment, redemption, surrender, or performance dates.

§8-203. Staleness as notice of defect or defense After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by a certificated security or setting a date on or after which the security is to be presented or surrendered for redemption or exchange, a purchaser is charged with notice of any defect in its issue or defense of the issuer, if the act or event: (1) requires the payment of money, the delivery of a certificated security, the registration of transfer of an uncertificated security, or any of them on presentation or surrender of the security certificate, the money or security is available on the date set for payment or exchange, and the purchaser takes the security more than one year after that date; or (2) is not covered by paragraph (1) and the purchaser takes the security more than two years after the date set for surrender or presentation or the date on which performance became due. Added by Acts 1978, No. 165, §1, eff. Jan. 1, 1979. Acts 1989, No. 135, §6, eff. Jan. 1, 1990; Acts 1995, No. 884, §1, eff. Jan. 1, 1996.
Section 10:8-203Verify source

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