21-06-03. Duplication or payment - By whom ordered - Proof and bond or signed
210 words·~1 min read·
/nd/title-21/chapter-21-06-miscellaneous-provisions/21-06-03·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
written agreement required.
The duplication or payment of any mutilated, defaced, lost, or destroyed obligation must be made upon resolution duly adopted:
1. In case of a bond or interest coupon of the state, by the industrial commission.
2. In case of any other obligation of the state, by the board, officer, or agency which
authorized the issuance of the original.
3. In case of an obligation of a political subdivision, by the governing board thereof. Before a duplicate may be issued or payment made in connection with a lost or destroyed obligation, the owner thereof shall furnish proof of such loss or destruction whereupon the state or political subdivision, as the case may be, may require either a surety bond in the amount of the lost obligation, a signed written agreement by the owner, or similar assurance conditioned to save the obligor harmless in the premises.
If the Bank of North Dakota is the owner of any such obligation, it may not be required to furnish a bond but it shall furnish proof of the loss or destruction of the obligation and shall reimburse the state or political subdivision for any loss or damage suffered by reason of the issuance of such duplicate or the payment of such obligation.