T-11.002 - Act respecting the transfer of securities and the establishment of security entitlements

Section 97 Disposition versions

2009-01-01

97. If the registered holder of a certificated security, whether in registered form or bearer form, claims that the security certificate has been lost, wrongfully taken or destroyed, the issuer must issue a new security certificate if the registered holder

(1)  so requests before the issuer has notice that the lost, wrongfully taken or allegedly destroyed security certificate has been delivered to a protected purchaser;

(2)  provides security sufficient in the issuer’s judgment to protect the issuer from any loss that the issuer may suffer by issuing a new certificate; and

(3)  satisfies any other reasonable requirements imposed by the issuer.

2008, c. 20, s. 97.