What procedure will you follow, if you loose your Stock Certificate? How can you get the replacement for the same? These are the questions, which might intrigue a share holder and he must be aware of the processes that has to be followed for the replacements.
The basic modus operandi for the share holder, for his lost Stock Certificate will be submitting Affidavit of Lost Certificate, Declaration regarding lost Certificate, Indemnity regarding Lost Share certificate and Letter of Indemnity for the lost Share Certificate.
Indemnity by a shareholder is very much essential regarding lost Share certificate and corporation also requires the same for the issue of replacement of the lost share. This agreement also binds the shareholder to indemnify the corporation for any claims made for the loss of share certificate.
Again, by signing the Indemnity Letter, the shareholder is also confirm that, if the lost share certificate comes to light then, the shareholder is bound to return it to the corporation for cancellation. It is also guarantee from the shareholder that, the corporation will not be any way responsible for the loss arising due to issuing of duplicate certificate. The Letter of Indemnity offers such guarantee.
It is also necessary that letter of indemnity must also be guaranteed by insurance company for the protection of the corporation. Such gurantee procedure of insurance company is also known as, ‘countersigning or joining in’ an indemnity. The insurance company provides such services by charging nominal charges. The charges or fees are depended on the share certificate value, because higher the value of share certificates higher the risk for the insurer.
Below given Indemnity Regarding Lost Share Certificate will guide you, when you also seek for the replacement of your lost share from the company:
Indemnity Regarding Lost Share Certificate
LOST SHARE CERTIFICATE INDEMNITY
APPLICATION FORM
PLEASE COMPLETE THE FOLLOWING IN BLOCK CAPITALS WHERE NECESSARY
1 Name of Applicant in full:__________________
2. Address:_____________________
3. Please advise the period of time resident at the address given above:___________________
4. Email address:_____________________
5. Telephone Number:___________________
6. Profession or Occupation:_______________
Particulars of lost or destroyed share certificate
1.Full name of the Company in whom the shares are held:________________
2. Are shares traded on the________ or____________ Stock Exchange?
Yes_____________
No_____________
(Please note we are only able to offer cover for shares traded on either of the above)
Please confirm which Exchange the shares are listed on:
3. Description of shares including number held:________________
4. Current Market Value of the share $_____________________
5. In whose name(s) are the shares held:____________________
6. Please provide a recent dividend voucher to which the lost share certificate relates.
__________________________________________
If one is not available please explain why below
Note.
We may request that a Statutory Declaration be provided. A Statutory Declaration must be sworn in the presence of a solicitor and confirm the following:
The name of the solicitor witnessing and the practice name and address should be clearly stated on the Statutory Declaration
Circumstances surrounding the loss/destruction of share certificate
1. How long ago was the share certificate last seen?_____________________
2. Where, and in whose possession was the share certificate last seen?_____________________
3. Where was the share certificate normally kept?_____________________
4. In what circumstances was it discovered that the share certificate was missing?_____________________
5. If the share certificate has been stolen, please name the Police Station at which the theft was reported and state the crime reference number and the date on which it was reported._____________________
Estate administration
If the beneficial owner of the share certificate is deceased, please attach a sealed copy of the Grant of Probate or Letters of Administration and complete the following; otherwise please go to the General Section on the next page.
1. Please state below the date of death of the beneficial owner of the shares:
__________________________________________
2. Names and addresses of personal representatives:
__________________________________________
3. If anything has come to light in the course of administration of the estate indicating the possibility that the share certificate may have been sold, charged, transferred, assigned or deposited with other persons as security, please provide details below:
__________________________________________
__________________________________________
I/We, hereby authorise_______________ [Insurance Comapany], its employees or agents to contact my/our bank and verify the details given above.
Date_____________________
Signed_____________________
Law Applicable
Unless the parties have agreed otherwise in writing any dispute concerning this Indemnity shall be governed in accordance with the State law and shall be governed and construed within the jurisdiction of the courts of United State.
Important notice concerning disclosure
It is your duty to disclose all material facts. A material fact is one that would influence our judgment in the consideration of your application. If you are in any doubt as to whether a fact is material please contact your usual advisor.
DECLARATION
I/We declare that the statements and particulars contained in this application are true and that I/we have not misstated or suppressed any material facts. In the context of this application, the applicant agrees the Intermediary (which the applicant has appointed to advise in relation to this indemnity) is acting on behalf of the applicant and not as an agent of the Insurer.
Date______________________
Signature__________________
All Applicants must sign the form
We recommend that you keep a record, including copies of letters and this application form, of all information supplied to us for the purpose of entering into this Indemnity.
Please return the completed application to the following address:
[Name Insurance Company]_______________________
Data Protection Act 1998
All personal information supplied by you will be treated in confidence by the ___________[Corporation] and will not be disclosed to any third parties except where your consent has been received or where permitted by law. In order to provide you with products and services this information will be held in the data systems of the__________[Corporation] or our agents or subcontractors.
The____________[Corporation] may pass your personal information to other companies for processing on its behalf. Some of these companies may be based outside United States in countries which may not have laws to protect your personal information, but in all cases the___________ insurance company will ensure that it is kept securely and only used for the purposes for which you provided it. Details of the companies and countries involved can be provided to you on request.
How to contact the Data Protection Liaison Officer
On payment of a small fee you are entitled to receive a copy of the information we hold about you. If you have any questions, or you would like to find out more about this notice you can write to:
[Name Insurance Company]__________________
Phone No.__________ Fax________
Email______________________