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.
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