Section 29: Replacement of certificates
115 words·~1 min read·
/ma/part-i/title-xxii/chapter-156b/29·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 29. The directors of a corporation may, subject to section 8–405 of chapter one hundred and six and to the by-laws of the corporation, determine the conditions upon which a new certificate of stock or uncertificated shares may be issued in place of any certificate alleged to have been lost, mutilated or destroyed. They may, in their discretion, require the owner of a lost, mutilated or destroyed certificate, or his legal representative, to give a bond, sufficient in their opinion, with or without surety, to indemnify the corporation against any loss or claim which may arise by reason of the issue of the shares in place of such lost, mutilated or destroyed stock certificate.