47-8405. Replacement of lost, destroyed or wrongfully taken security certificate
A. If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed or wrongfully taken, the issuer shall issue a new certificate if the owner:
1. So requests before the issuer has notice that the certificate has been acquired by a protected purchaser;
2. Files with the issuer a sufficient indemnity bond; and
3. Satisfies other reasonable requirements imposed by the issuer.
B. If, after the issue of a new security certificate, a protected purchaser of the original certificate presents it for registration of transfer, the issuer shall register the transfer unless an overissue would result. In that case, the issuer's liability is governed by section 47-8210. In addition to any rights on the indemnity bond, an issuer may recover the new certificate from a person to whom it was issued or any person taking under that person, except a protected purchaser.
Section: Previous 47-8305 47-8306 47-8307 47-8401 47-8402 47-8403 47-8404 47-8405 47-8406 47-8407 47-8501 47-8502 47-8503 47-8504 47-8505 NextLast modified: October 13, 2016