30-8-315. Action against transferee based upon wrongful transfer. (1) Any person against whom the transfer of a security is wrongful for any reason, including his incapacity, as against anyone except a bona fide purchaser, may:
     (a) reclaim possession of the certificated security wrongfully transferred;
     (b) obtain possession of any new certificated security representing all or part of the same rights;
     (c) compel the origination of an instruction to transfer to him or a person designated by him an uncertificated security constituting all or part of the same rights; or
     (d) have damages.
     (2) If the transfer is wrongful because of an unauthorized endorsement of a certificated security, the owner may also reclaim or obtain possession of the security or a new certificated security even from a bona fide purchaser if the ineffectiveness of the purported endorsement can be asserted against him under the provisions of this chapter on unauthorized endorsements (30-8-311).
     (3) The right to obtain or reclaim possession of a certificated security or to compel the origination of a transfer instruction may be specifically enforced, the transfer of a certificated or uncertificated security enjoined, and a certificated security impounded pending the litigation.

     History: En. Sec. 8-315, Ch. 264, L. 1963; R.C.M. 1947, 87A-8-315; amd. Sec. 39, Ch. 402, L. 1983.