554.8405 Replacement of lost, destroyed, or wrongfully taken security certificate. 1. 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 newcertificate if the owner: a. so requests before the issuer has notice that the certificate has been acquired by a protected purchaser; b. files with the issuer a sufficient indemnity bond; andc. satisfies other reasonable requirements imposed by the issuer.2. 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 anoverissue would result. In that case, the issuer’s liability is governed by section 554.8210. Inaddition to any rights on the indemnity bond, an issuer may recover the new certificate froma person to whom it was issued or any person taking under that person, except a protectedpurchaser. [S13, §3060-a199, -a200; C24, 27, 31, 35, 39, §9659, 9660; C46, §541.199, 541.200; C50, 54, 58, 62, §493A.17, 541.199; C66, 71, 73, 75, 77, 79, 81, §554.8405] 89 Acts, ch 113, §41; 96 Acts, ch haser. [S13, §3060-a199, -a200; C24, 27, 31, 35, 39, §9659, 9660; C46, §541.199, 541.200; C50, 54, 58, 62, §493A.17, 541.199; C66, 71, 73, 75, 77, 79, 81, §554.8405] 89 Acts, ch 113, §41; 96 Acts, ch 1138, §45, 84Referred to in §501A.905, 554.8406, 556.13 Sat Dec 23 01:58:38 2023 Iowa Code 2024, Section 554.8405 (24, 0)
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