Section 2-213 - Lost stock certificate. - Maryland Statutes

§ 2-213. Lost stock certificate.
 

(a)  Board may establish conditions of replacement.- Unless the bylaws provide otherwise, the board of directors of a corporation may determine the conditions for issuing a new stock certificate in place of one which is alleged to have been lost, stolen, or destroyed. 

(b)  Bond may be required.- In its discretion, the board may require the owner of the certificate to give bond, with sufficient surety, to indemnify the corporation against any loss or claim arising as a result of the issuance of a new certificate. 

(c)  New certificate not to constitute overissue.- The issuance of a new certificate under this section does not constitute an overissue of the shares it represents. 
 

[An. Code 1957, art. 23, § 27; 1975, ch. 311, § 2.]