As per Corporate law, a Stock Certificate can be termed as legal document that specifies the ownership of certain numbers of stock shares in a corporation. It is the basic custom of all corporations to represent their shares of ownership through, Stock Certificates, which are also ownership shares of the owners. Stock Certificates are also known as Certificate of Stock or Share Certificate according to corporate law.
The share certificate is also material evidence of the possession of specific numbers of shares in a Corporation. These certificates also show shareholders money or property investments in the company.
It is also essential to remember that all Stock Certificates are serially numbered and printed with the name of share owner, capitalization, state, and signature titles. In lieu of these details, types, classes, limitations and special contents are also recorded on corporate share certificates.
There are various types of Certificate of Stocks. A simple or general Stock Certificate has corporate name and share details printed on them, whereas custom-printed share certificates contains corporate name, share information, per value of the stock value, state of organization, corporation logo and custom artwork. Different corporations use different designs, colors, borders, sizes and styles for their Share Certificates.
But, on occasions, shareholders may loose or misplace his/her stock certificate or they are destroyed due to fire, theft, flood and numerous other valid reasons. Such loss may result in loosing the copy and loss of investment of these stocks, if replacements are not made for the lost Share Certificates.
It is necessary for a shareholder to submit a written statement declaring physical loss of Certificate of Stocks. Such written statements are legally known as Affidavits, which contains details of the loss, name of the owner, serial no, date of issue and so on. The Affidavit is also an oath, outlining the actual loss of the security/stock certificate to the best of the shareholders knowledge. The shareholder may also issue a letter of Indemnity, requesting the replacement, once the statement is made.
It is also customary for the corporation to seek the Declaration regarding lost Stock Certificate for issuing the replacement. Such Declaration must be signed before a Notary Public.
Below given Declaration Regarding Lost Share Certificate template will help you in drafting your Declaration for the lost Share Certificates:
Declaration Regarding Lost Share Certificate
IN THE MATTER OF share certificate number_________ [Number of Lost Share Certificate] (the "Certificate") for___________[Number and Class of Shares (ie. 100 Common)] shares (the "Shares") in the capital stock of______________ [Name of Corporation whose Share Certificate has been Lost] (the “Corporation”) registered in the name of_________ [Name of Shareholder] (the “Shareholder”).I,______________ [Name of Officer Signing on behalf of Shareholder], of the City of____________ [City of Residence of Shareholder], in the State of______________[State of Residence of Shareholder].
DO SOLEMNLY DECLARE THAT:
I am the_______________ [Capacity of Title of Person Signing Declaration (ie. President)] of the Shareholder and as such, have knowledge of the matters hereinafter deposed to.
The Shareholder is the registered owner of the Shares represented by the Certificate. The Shares are registered in the name of the Shareholder on the books and registers of the Corporation.
The Shareholder has not sold, transferred, assigned, pledged, hypothecated or otherwise encumbered or disposed of the Shares, nor has the Shareholder in any way divested itself or been divested of the absolute ownership thereof.
The Certificate has been mislaid, lost, stolen or destroyed so that the same cannot be found or produced. At the time when it was mislaid, lost, stolen or destroyed, the Certificate had not been endorsed for transfer.
I make this solemn declaration for the purpose of inducing the Corporation to replace or
cause to be replaced the Certificate, and to issue or cause to be issued a new certificate or
certificates in my name in lieu of the Certificate, and I hereby declare that if the
Certificate comes into the Shareholder’s possession or control ormy possession or control,
I will immediately surrender the Certificate to the Corporation.
Declared on [Date (ie. May 31, 2002)].
[Name of Officer Signing on behalf of Shareholder]____________________________
(FOR NOTARY PUBLIC)
STATE OF_____________ COUNTY OF______________ In____________, on the___________ day of___________, 200x,
before me, a Notary Public in and for the above state and county, personally
appeared________________ (NAME OF AFFIANT), known to me or proved to be the person named in and who executed the foregoing instrument, and being first duly sworn, such person acknowledged that he or she executed said instrument for the purposes therein contained as his or her free and voluntary act and deed.
Type of Identification Produced:_____________________
Affiant is / is not personally known to me ( )
NOTARY PUBLIC___________________
My Commission Expires:___________