23-20.1 - Bonds mutilated, lost or destroyed. - Virginia Statutes

§ 23-20.1. Bonds mutilated, lost or destroyed.

Should any bond issued by an institution become mutilated or be lost ordestroyed, the board may cause a new bond of like date, number and tenor tobe executed and delivered in exchange and substitution for, and uponcancellation of, such mutilated bond and its interest coupons, or in lieu ofand in substitution for such lost or destroyed bond and its unmaturedinterest coupons. Such new bond or coupon shall not be executed or delivereduntil the holder of the mutilated, lost or destroyed bond (1) has paid thereasonable expense and charges in connection therewith and (2) in the case ofa lost or destroyed bond, has filed with the board and the State Treasurersatisfactory evidence that such bond was lost or destroyed and that theholder was the owner thereof and (3) has furnished indemnity satisfactory tothe State Treasurer.

(1962, c. 205.)