North Dakota § 41-08-38 - (8-405) Replacement of lost, destroyed, or wrongfully taken security
Full text of North Dakota North Dakota Century Code § 41-08-38 — (8-405) Replacement of lost, destroyed, or wrongfully taken security, with citation guidance and answers to common questions.
§ 41-08-38. (8-405) Replacement of lost, destroyed, or wrongfully taken security
certificate. 1. If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed, or wrongfully taken, the issuer shall issue a new certificate if the owner: a. So requests before the issuer has notice that the certificate has been acquired by a protected purchaser; b. Files with the issuer a sufficient indemnity bond; and c. Satisfies other reasonable requirements imposed by the issuer. 2. If, after the issue of a new security certificate, a protected purchaser of the original certificate presents it for registration of transfer, the issuer shall register the transfer unless an overissue would result. In that case, the issuer's liability is governed by section 41-08-26. In addition to any rights on the indemnity bond, an issuer may recover the new certificate from a person to whom it was issued or any person taking under that person, except a protected purchaser.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 41-08-38
What does North Dakota Century Code § 41-08-38 cover?
Section 41-08-38 ("(8-405) Replacement of lost, destroyed, or wrongfully taken security") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 41-08-38?
A common citation format is "North Dakota Century Code § 41-08-38" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 41-08-38 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.