1941_public laws_354_18
CHAPTER 353 AN ACT TO PROVIDE FOR THE TRANSFER OF SHARES OF STOCK IN CORPORATIONS AND TO MAKE UNI- FORM THE LAW WITH REFERENCE THERETO. The General Assembly of North Carolina do enact:
Lost or Destroyed Certificate. Where a certificate has been lost or destroyed, a court of competent jurisdiction may order the issue of a new certificate therefor on service of process upon the corporation and on reasonable notice by publication, and in any other way which the court may direct, to all persons interested, and upon satisfactory proof of such loss or destruction and upon the giving of a bond with sufficient surety to be approved by the court to protect the corporation or any person injured by the issue of the new certificate from any liability or expense, which it or they may incur by reason of the original certificate remaining outstanding. The court. may also in its discretion order the payment of the corporations reasonable costs and counsel fees. The issue of a new certificate under an order of the court as provided in this section, shall not relieve the corporation from liability in damages to a person to whom the original certificate has been or shall be transferred for value without notice of the proceedings or of the issuance of the new certificate: Provided, nothing in this section shall prevent the issuance of a new stock certificate in the place of a lost or destroyed certificate in accordance with the provisions of Section one thousand one hundred and sixty-two of the Consolidated Statutes of one thousand nine hundred and nineteen.