SECTIONS 16700-16707 - California Statutes

GOVERNMENT CODE

SECTION 16700-16707

16700. As used in this chapter, "instrument" means bonds, coupons,
and other evidences of State indebtedness, except warrants.

16701. Whenever it appears to the Treasurer upon competent proof
that any instrument has been lost or destroyed and the required
security is deposited, he may issue or cause to be issued instruments
similar as to form and content, except that they shall be signed and
countersigned by the corresponding officials in office at the time
the new instruments are issued. If the indebtedness evidenced by the
instrument has matured and is due and payable, he may pay it if his
records show the instrument is outstanding and unpaid.

16702. If the Treasurer refuses to issue or cause to be issued new
instruments to replace those lost or destroyed, the owner may apply
to the Superior Court of the County of Sacramento for an order
requiring the Treasurer to show cause why he should not be required
to issue or cause to be issued new instruments.

16703. A copy of the petition for the order to show cause shall be
served upon the Treasurer not less than 10 days prior to the time set
for the hearing.

16704. If the court finds that the petitioner is the lawful owner
of the instruments described in the petition, that they have been
lost or destroyed and can not after due diligence be found, and that
no sufficient cause has been shown why new instruments to replace
them should not be issued, it may make an order requiring the
Treasurer to issue and deliver or cause to be issued and delivered to
the petitioner new instruments in place of the lost or destroyed
instruments, upon the petitioner's giving the security required by
this chapter.

16705. Before the Treasurer may issue a new instrument or pay the
indebtedness represented by a lost or destroyed instrument, the owner
shall give security in (a) double the amount of the lost or
destroyed bearer instrument, or (b) equal to the face amount of the
lost or destroyed registered instrument, to indemnify the state
against loss or damage that may be incurred on account of the lost or
destroyed instrument. The security may be specified by, is subject
to the approval of, and, after approval is endorsed thereon, shall be
filed with, the Treasurer.

16706. The owner shall pay all costs and expenses in connection
with the issuance of any new instrument.

16707. Every new instrument and every coupon of any instrument so
issued shall state upon its face the number and denomination of the
instrument for which it is issued; that it is issued in the place of
the instrument claimed to have been lost or destroyed; that it is
issued as a duplicate; and that if both the original and duplicate
instruments are presented to and paid by the Treasurer, he shall not
be held responsible for the duplicate payment but may rely on the
security given.