CHAPTER 279

AN ACT TO AMEND CHAPTER 74, TITLE 29, DELAWARE CODE, RELATING TO BONDS OF THE STATE BY PROVIDING FOR THE REPLACEMENT OF LOST, DESTROYED OR DEFACED BONDS.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. Chapter 74, Title 29, Delaware Code, is hereby amended by the addition of a new §7412A to read as follows:

§ 7412A. Replacement of lost, destroyed or defaced bonds

The State Treasurer may issue a new bond to replace an unmatured bond which has been lost, destroyed or defaced upon giving to and satisfactory to him, of (a) proof of ownership, (b) proof of loss or destruction, or, in the case of a defaced bond, the bond and coupons, if any, (c) adequate security to indemnify the State and the bank or banks at which the bond and coupons are payable against any loss that may be suffered by them on account of such replaced bond and coupons, and (d) payment of the cost of preparation of the new bond and coupons, if any.

The new bond and coupons, if any, shall be of the same form and tenor as the bond and coupons originally issued, shall be executed by the manual or facsimile signature of such officers in office at the time of the replacement, and shall bear the seal of the State or a facsimile thereof and a facsimile of the State Treasurer's signature may appear on the coupons, if any; provided, however, that on the bond the signature of the State Treasurer shall be in his own proper handwriting. There shall be endorsed on the new bond a statement in substantially the following form:

This bond has been reissued to replace a lost, destroyed or defaced bond.

Approved July, 14, 1969.