Indemnity Bond to Replace Lost, Destroyed, or Stolen Stock Certificate
Description
Definition and meaning
The Indemnity Bond to Replace Lost, Destroyed, or Stolen Stock Certificate is a legal document used by a shareholder who has lost their stock certificate. This bond guarantees that the shareholder will indemnify the corporation and transfer agent against any future claims related to the original certificate. It serves as a protective measure for the corporation, allowing them to issue a duplicate certificate without the risk of being held liable for any issues arising from the original certificate.
Who should use this form
This form should be used by any shareholder who has experienced the loss, destruction, or theft of a stock certificate. It is essential for those who wish to obtain a replacement certificate while ensuring that the interests of the corporation and other parties are protected. Typical users include individual and corporate shareholders who manage their stock investments.
Key components of the form
The Indemnity Bond typically includes several important components:
- Principal: The shareholder who is the owner of the stock certificate.
- Surety: The surety company that guarantees the obligations of the principal under this bond.
- Corporation: The issuing corporation, which is at risk from possible claims related to the certificate.
- Obligees: Individuals or entities that may be affected by the issuance of the new certificate.
- Conditions of the bond: Provisions outlining the obligations of the principal and surety in case the original certificate is found.
How to complete a form
To complete the Indemnity Bond:
- Begin by filling in the name and address of the shareholder (Principal).
- Enter the name of the surety company and the state in which it is incorporated.
- Specify the name of the corporation that issued the stock certificate and its address.
- Provide the certificate number, number of shares, and type of stock (common or preferred).
- Indicate whether the certificate was lost, destroyed, or stolen.
- Sign and date the form where indicated, ensuring that an officer of the surety company also signs.
How to fill out Indemnity Bond To Replace Lost, Destroyed, Or Stolen Stock Certificate?
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FAQ
Some companies no longer issue paper stock certificates. However, when you own shares in a corporation that still provides them, you can be issued paper stocks.If the company offers a direct stock purchase plan, you might want to make your investment using this service.
If you are missing certificates, contact the issuing company, transfer agent or the stock brokerage where the shares were bought. Brokerage firms can research the history of shares traded in the account and certificates you think are lost, and they can also deal with the transfer agent on your behalf.
If your securities certificate is lost, accidentally destroyed, or stolen, you should immediately contact the transfer agent and request a "stop transfer" to prevent ownership of the securities from being transferred from your name to another's.
If a share certificate has been lost, stolen or destroyed, you should contact us by phone or in writing.If you are a sole shareholder based in the UK and the value of missing shares is less than £10,000, you may be entitled to use the Telephone Express Service to obtain a new certificate.
The most obvious way to get your certificate is to go directly to the company that issued the stock, the issuer, and ask to have a physical certificate mailed to you.
Stock certificates can be damaged or destroyed and also are at risk of being lost or stolen. If you need to replace a lost stock certificate, you can do so by contacting the brokerage or the company that issued it.
If an investor wants a stock certificate, or if it is lost, stolen, or damaged, they can receive a new one by contacting a company's transfer agent.
Pay a fee to reissue the certificates: Whenever you issue paper stock certificates, you'll pay a fee. My transfer agent charges $50 to issue the shares, but every transfer agent and brokerage is different. I've seen rates up to $500 to issue stock certificates.