7-7-2104. Replacement of lost bond, warrant, or coupon.

372 words·~2 min read·/mt/title-7/chapter-7/part-21/7-7-2104

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

7-7-2104 . Replacement of lost bond, warrant, or coupon.

(1)The board may issue a duplicate warrant, bond, or coupon whenever any warrant, bond, or coupon drawn by it upon the treasury of the county is lost or destroyed. The duplicate warrant, bond, or coupon must be in the same form as the original and will take the place in order of registration and payment of and supersede the original bond, warrant, or coupon. It must have the word "duplicate" plainly printed across its face.

(2)No duplicate warrant, bond, or coupon may be issued under this section unless the person entitled to receive the duplicate deposits with the county treasurer a bond in double the amount for which the duplicate warrant, bond, or coupon is issued, conditioned to render the county and its officers harmless from all loss, costs, or damages by reason of issuing the duplicate.

(3)No bond of indemnity is required:

(a)when a payee is the state of Montana or any agency, instrumentality, or officer of the state;

(b)when the owner or custodian is the state or any agency or officer thereof;

(c)when the owner or custodian is a bank, savings and loan association, credit union, admitted insurer, or trust company whose financial condition is regulated by the state;

(d)when it can be established that a crime has been committed and that as a result of such crime a county warrant, bond, or coupon has been stolen or destroyed; or

(e)when it can be established that a county warrant, bond, or coupon has been mailed to an incorrect payee.

(4)If the owner or custodian applies under the provisions of subsection (3)(d) or (3)(e), a stop-payment order shall be placed on the original warrant, bond, or coupon by the county treasurer.

(5)If the owner or custodian applies under the provisions of subsection (3)(c), (3)(d), or (3)(e), the application shall include an agreement to indemnify and hold the county or its officers and employees harmless from any loss resulting from the issuance of a duplicate warrant, bond, or coupon. Any loss incurred in connection with the issuance of a duplicate warrant shall be charged against the account from which the payment was derived.