                                 CODE OF VIRGINIA

REPLACEMENT OF LOST, DESTROYED OR WRONGFULLY TAKEN SECURITY CERTIFICATE (§
8.8A-405)

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 issuer.

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&#8217;s liability is governed by &#xA7; 8.8A-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 purchaser.

HISTORY: 1996, c. 216.