§ 159-137. Lost, stolen, defaced, or destroyed bonds or notes. - North Carolina Statutes

§ 159‑137.  Lost,stolen, defaced, or destroyed bonds or notes.

(a)        If lost, stolen, or completely destroyed, any bond, note, orcoupon may be reissued in the same form and tenor upon the owner's furnishingto the satisfaction of the secretary and the issuing unit: (i) proof ofownership, (ii) proof of loss or destruction, (iii) a surety bond in twice theface amount of the bond or note and coupons, and (iv) payment of the cost ofpreparing and issuing the new bond, note, or coupons.

(b)        If defaced or partially destroyed, any bond, note, or couponmay be reissued in the same form and tenor to the bearer or registered holder,at his expense, upon surrender of the defaced or partially destroyed bond,note, or coupon and on such other conditions as the Commission may prescribe.The Commission may also provide for authentication of defaced or partiallydestroyed bonds, notes, or coupons instead of reissuing them.

(c)        Each new bond, note, or coupon issued under this sectionshall  be signed by the officers of the issuing unit who are in office at thetime, or by the State Treasurer if the unit no longer exists, and shall containa recital to the effect that it is issued in exchange for or replacement of acertain bond, note, or coupon (describing it sufficiently to identify it) andis to be deemed a part of the same issue as the original bond, note, or coupon.(1935, c. 292, ss. 1, 2; 1939, c. 259; 1971, c. 780, s. 1.)