§ 25-3-309. Enforcement of lost, destroyed, or stolen instrument.
§25‑3‑309. Enforcement of lost, destroyed, or stolen instrument.
(a) A person not inpossession of an instrument is entitled to enforce the instrument if (i) theperson was in possession of the instrument and entitled to enforce it when lossof possession occurred, (ii) the loss of possession was not the result of atransfer by the person or a lawful seizure, and (iii) the person cannotreasonably obtain possession of the instrument because the instrument wasdestroyed, its whereabouts cannot be determined, or it is in the wrongfulpossession of an unknown person or a person that cannot be found or is notamenable to service of process.
(b) A person seekingenforcement of an instrument under subsection (a) of this section must provethe terms of the instrument and the person's right to enforce the instrument.If that proof is made, G.S. 25‑3‑308 applies to the case as if theperson seeking enforcement had produced the instrument. The court may not enterjudgment in favor of the person seeking enforcement unless it finds that theperson required to pay the instrument is adequately protected against loss thatmight occur by reason of a claim by another person to enforce the instrument.Adequate protection may be provided by any reasonable means. (1965,c. 700, s. 1; 1995, c. 232, s. 1.)