Section 2-213 - Lost stock certificate.
§ 2-213. Lost stock certificate.
(a) Board may establish conditions of replacement.- Unless the bylaws provide otherwise, the board of directors of a corporation may determine the conditions for issuing a new stock certificate in place of one which is alleged to have been lost, stolen, or destroyed.
(b) Bond may be required.- In its discretion, the board may require the owner of the certificate to give bond, with sufficient surety, to indemnify the corporation against any loss or claim arising as a result of the issuance of a new certificate.
(c) New certificate not to constitute overissue.- The issuance of a new certificate under this section does not constitute an overissue of the shares it represents.
[An. Code 1957, art. 23, § 27; 1975, ch. 311, § 2.]