§490:8-405  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 490:8-210.  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. [L 1997, c 33,
pt of §2]