§ 4-3-309 — Enforcement of lost, destroyed, or stolen instrument

(a) A
person not in possession of an instrument is entitled to enforce the instrument if (i)
the person was in possession of the instrument and entitled to enforce it when loss
of possession occurred, (ii) the loss of possession was not the result of a transfer by
the person or a lawful seizure, and (iii) the person cannot reasonably obtain
possession of the instrument because the instrument was destroyed, its
whereabouts cannot be determined, or it is in the wrongful possession of an
unknown person or a person that cannot be found or is not amenable to service of
process.

(b) A person seeking enforcement of an instrument under subsection (a) of
this section must prove the terms of the instrument and the person's right to
enforce the instrument. If that proof is made, section 4-3-308 applies to the case as
if the person seeking enforcement had produced the instrument. The court may not
enter judgment in favor of the person seeking enforcement unless it finds that the
person required to pay the instrument is adequately protected against loss that
might occur by reason of a claim by another person to enforce the instrument.
Adequate protection may be provided by any reasonable means.

Legislative History

Source: L. 94: Entire article R&RE, p. 858, � 1, effective January 1, 1995.