§ 8-405 — Replacement of Lost, Destroyed, or Wrongfully taken Security Certificate

Section 8--405. Replacement of Lost, Destroyed, or Wrongfully taken\n Security Certificate.\n (a) If an owner of a certificated security, whether in registered or\nbearer form, claims that the certificate has been lost, destroyed, or\nwrongfully taken, the issuer shall issue a new certificate if the owner:\n (1) so requests before the issuer has notice that the certificate\n has been acquired by a protected purchaser;\n (2) files with the issuer a sufficient indemnity bond; and\n (3) satisfies other reasonable requirements imposed by the\n issuer.\n (b) If, after the issue of a new security certificate, a protected\npurchaser of the original certificate presents it for registration of\ntransfer, the issuer shall register the transfer unless an overissue\nwould result. In that case, the issuer's liability is governed by\nSection 8--210. In addition to any rights on the indemnity bond, an\nissuer may recover the new certificate from a person to whom it was\nissued or any person taking under that person, except a protected\npurchaser.\n