30 ILCS 315/3

Current through Public Act 103-1052

Section 30 ILCS 315/3 - Issue of replacement bond

An issuing authority shall issue a replacement bond for an unmatured bond which has been lost, destroyed or defaced when furnished with:

(a) Proof of ownership;

(b) Proof of loss or destruction or, in the case of a defaced bond, the bond and any coupons issued in connection therewith;

(c) Adequate security to indemnify the issuing authority and the bank or banks at which the bond is payable against any loss they may suffer on account of such replacement bond; and

(d) Payment of the cost of preparation of the replacement bond.

30 ILCS 315/3

P. A. 77-205.