§47-45  Condition of replacement or payment. 
The director of finance shall not provide for the issuance of a replacement for
or the payment of the lost, stolen, destroyed, wholly or in part, or defaced
bond, coupon, or both, as the case may be, unless the claimant shall have
executed and delivered to the director a legal and sufficient surety bond in an
amount equal to the loss which may be suffered by the county, any transfer
agent, paying agent, or registrar by reason of issuing replacements or making payments
mentioned herein.  Any such surety bond shall be in such form and with such
sufficient surety or sureties as shall be satisfactory to the director of
finance, and shall be conditioned to indemnify and save harmless the county,
any transfer agent, paying agent, or registrar from any and all loss on account
of the bond, coupon, or both, as the case may be, so claimed to have been lost,
stolen, destroyed, or defaced.  The duration of the surety bond shall be not
less than the date upon which the bond, coupon, or both, as the case may be,
being replaced or paid become due and payable, plus the period of the statute
of limitations applicable to bonds and coupons.  In the case of a partially
destroyed or defaced bond, coupon, or both, as the case may be, the claimant
shall surrender the partially destroyed or defaced bond, coupon, or both, as
the case may be, at the time of delivery of the replacement therefor.



All expenses necessary for the providing of any
duplicate bond, coupon, or both, as the case may be, or any transferable
certificate shall be borne by the claimant thereof, and the expenses shall be
paid at the time the request for replacement is filed. [L 1989, c 80, pt of §2]