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2015 Maryland Code
CORPORATIONS AND ASSOCIATIONS
Title 2 - CORPORATIONS IN GENERAL -- FORMATION, ORGANIZATION, AND OPERATION
Subtitle 2 - ISSUANCE OF SECURITIES
§ 2-213 - Lost stock certificate

Universal Citation:
MD Corp & Assn Code § 2-213 (2015)
Learn moreThis media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

(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.

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