15.2-5128 - Interim receipts and temporary bonds; bonds mutilated, lost or destroyed. - Virginia Statutes

§ 15.2-5128. Interim receipts and temporary bonds; bonds mutilated, lost ordestroyed.

Prior to the preparation of definitive bonds, the authority may, under likerestrictions, issue interim receipts or temporary bonds, with or withoutcoupons, exchangeable for definitive bonds when such bonds have been executedand are available for delivery.

If any bond issued under this chapter is mutilated, lost or destroyed, theauthority may cause a new bond of like date, number and tenor to be executedand delivered upon the cancellation in exchange or substitution for amutilated bond and its interest coupons, or in lieu of and in substitutionfor a lost or destroyed bond and its unmatured interest coupons. Such newbond or coupon shall not be executed or delivered until the holder of themutilated, lost or destroyed bond has (i) paid the reasonable expense andcharges in connection therewith and, in the case of a lost or destroyed bond,has filed with the authority and its treasurer evidence satisfactory to suchauthority and its treasurer that such bond was lost or destroyed and that theholder was the owner and (ii) furnished indemnity satisfactory to thetreasurer of the authority.

(Code 1950, § 15-764.16; 1950, p. 1322; 1962, cc. 206, 623, § 15.1-1254;1997, c. 587.)