§47-42 Issuance of duplicate.

434 words·~2 min read·/hi/chapter-47/47-42

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)When the director of finance is satisfied that the bond, coupon, or both, as the case may be, is in fact lost, stolen, destroyed, wholly or in part, or defaced and that the claimant is the legal and beneficial owner of such bond, coupon, or both, as the case may be, and that if lost or stolen, such bond, coupon, or both, as the case may be, has not been acquired by a bona fide purchaser, the director, except as provided in sections 47-43 and 47-44, may cause to be issued a duplicate thereof, which shall be so marked as to adequately identify it as such to the county, any transfer agent, paying agent, or bond registrar.

(b)A duplicate bond in coupon form issued in place of a bond lost, stolen, destroyed, or defaced shall be lithographed or steel engraved unless otherwise provided in the proceedings authorizing the issuance thereof, and shall bear the manual signature of the director of finance or duly authorized deputy director of finance of the county and the mayor of the county, and an impression of the seal of the county shall be affixed thereon. Any duplicate coupon issued in place of any lost, stolen, destroyed, or defaced coupon appertaining to an interest bearing bond of the county shall bear a lithographed or engraved facsimile of the signature of the director of finance. When a duplicate of the bond being replaced bears the manual signature of the mayor and the manual signature of the director of finance or deputy director of finance in office at the time of issuance of such duplicate bond, or any coupon being replaced bears the facsimile signature of the director of finance in office at the time of issuance of such coupon, the signature of the mayor and director of finance or deputy director of finance shall be valid and sufficient and shall have the same effect as that of the persons originally signing the bond or whose facsimile signatures appears on such bond, coupon, or both, as the case may be.

(c)All duplicate bonds in fully registered form issued in place of bonds lost, stolen, destroyed, wholly or in part, or defaced shall be from the stock of fully registered bonds of the series then held by the registrar for the series and shall be executed, sealed, and authenticated in the same manner as fully registered bonds of the series, and any duplicate fully registered bond so executed, sealed, and authenticated shall be valid and sufficient for all purposes. [L 1989, c 80, pt of §2]