Common use of Lost, Stolen or Destroyed Stock Certificates; Issuance of New Certificates Clause in Contracts

Lost, Stolen or Destroyed Stock Certificates; Issuance of New Certificates. The Board of Directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the Corporation alleged to have been lost, stolen or destroyed upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost, stolen or destroyed. When authorizing such issue of a new certificate or certificates, the Board of Directors may, in its discretion and as a condition precedent to the issuance thereof, require the owner of such lost, stolen or destroyed certificate or certificates, or his legal representative, to advertise the same in such manner as it shall require and/or to give the Corporation a bond in such sum as it may direct as indemnity against any claim that may be made against the Corporation with respect to the certificate alleged to have been lost, stolen or destroyed.

Appears in 4 contracts

Samples: Agreement and Plan of Merger (Transcommunity Financial Corp), Agreement and Plan of Merger (Community Bankers Acquisition Corp.), Agreement and Plan of Merger (Community Bankers Acquisition Corp.)

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