If any bond issued by an institution is mutilated, lost, or destroyed, the board may execute and deliver a new bond of like date, number, and tenor in exchange and substitution for, and upon cancellation of a mutilated bond and its interest coupons or in lieu of and in substitution for a lost or destroyed bond and its unmatured interest coupons. Such new bond or coupon shall not be executed or delivered until the holder of the mutilated, lost, or destroyed bond (i) has paid the reasonable expense and charges in connection with the execution and delivery; (ii) in the case of a lost or destroyed bond, has filed with the board and the State Treasurer satisfactory evidence that such bond was lost or destroyed and that the bondholder was the owner of the bond; and (iii) has furnished indemnity satisfactory to the State Treasurer.
1962, c. 205, § 23-20.1; 2016, c. 588.
Structure Code of Virginia
Title 23.1 - Institutions of Higher Education; Other Educational and Cultural Institutions
Chapter 11 - Bonds and Other Obligations
§ 23.1-1101. Powers of institutions vested in majority of members of board; quorum
§ 23.1-1102. Purpose of institutions
§ 23.1-1103. Institutions; powers generally
§ 23.1-1104. Institutions; powers; projects and bonds
§ 23.1-1105. Institutions; powers; borrowing upon endowment and other investments
§ 23.1-1107. Bondholders; remedies and trustees
§ 23.1-1108. Bonds mutilated, lost, or destroyed
§ 23.1-1109. Bonds and revenues; disposition
§ 23.1-1110. Bonds as legal investments
§ 23.1-1111. Bonds; prohibition against obligating Commonwealth
§ 23.1-1113. Bonds; surplus to be paid into state treasury
§ 23.1-1114. Projects; accounts to be kept by boards
§ 23.1-1115. Projects; exemption from taxation
§ 23.1-1116. Commonwealth not to limit revenues of institutions
§ 23.1-1117. Borrowing to purchase real estate
§ 23.1-1118. Discretion of Governor in granting or withholding consent or approval
§ 23.1-1120. Exchange and cancellation of consol coupon bonds of the Commonwealth