Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Replacement of Lost, Destroyed, or Wrongfully taken Security Certificate
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 8, PART 4
Section 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


(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 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