§ 142-15.1. Lost, stolen, defaced, or destroyed State bonds.
§142‑15.1. Lost, stolen, defaced, or destroyed State bonds.
(a) If lost, stolen, orcompletely destroyed, any State bond, note, or coupon may be reissued in thesame form and tenor upon the owner's furnishing to the satisfaction of theState Treasurer:
(1) Proof of ownership,
(2) Proof of loss ordestruction,
(3) A surety bond intwice the face amount of bond or note and coupon, and
(4) Payment of the costof preparing and issuing the new bond, note, or coupon.
(b) If defaced orpartially destroyed, any State bond, note, or coupon may be reissued in thesame form and tenor to the bearer or registered holder, at his expense, uponsurrender of the defaced or partially destroyed bond, note, or coupon and onsuch other conditions as the State Treasurer may prescribe. The State Treasurermay also provide for authentication of defaced or partially destroyed bonds,notes, or coupons instead of reissuing them.
(c) Each new Statebond, note, or coupon issued under this section shall be signed by the StateTreasurer and shall contain a recital to the effect that it is issued inexchange for or replacement of a certain bond, note, or coupon (describing itsufficiently to identify it) and is to be deemed a part of the same issue asthe original bond, note, or coupon.
(d) Before takingaction under this section to replace, exchange, or authenticate a State bond,note, or coupon, the State Treasurer shall obtain the advice and consent of theCouncil of State. (1971, c. 780, s. 36.)