§47-45 Condition of replacement or payment. The director of finance shall not provide for the issuance of a replacement for or the payment of the lost, stolen, destroyed, wholly or in part, or defaced bond, coupon, or both, as the case may be, unless the claimant shall have executed and delivered to the director a legal and sufficient surety bond in an amount equal to the loss which may be suffered by the county, any transfer agent, paying agent, or registrar by reason of issuing replacements or making payments mentioned herein. Any such surety bond shall be in such form and with such sufficient surety or sureties as shall be satisfactory to the director of finance, and shall be conditioned to indemnify and save harmless the county, any transfer agent, paying agent, or registrar from any and all loss on account of the bond, coupon, or both, as the case may be, so claimed to have been lost, stolen, destroyed, or defaced. The duration of the surety bond shall be not less than the date upon which the bond, coupon, or both, as the case may be, being replaced or paid become due and payable, plus the period of the statute of limitations applicable to bonds and coupons. In the case of a partially destroyed or defaced bond, coupon, or both, as the case may be, the claimant shall surrender the partially destroyed or defaced bond, coupon, or both, as the case may be, at the time of delivery of the replacement therefor.
All expenses necessary for the providing of any duplicate bond, coupon, or both, as the case may be, or any transferable certificate shall be borne by the claimant thereof, and the expenses shall be paid at the time the request for replacement is filed. [L 1989, c 80, pt of §2]
Structure Hawaii Revised Statutes
Title 6. County Organization and Administration
47-2 Issuance authorized; limitation.
47-4 Bonds for revenue-producing undertakings.
47-9 Form and execution of bonds.
47-11 Support facility for variable rate bonds.
47-13 Exemption from taxes; first charge on general fund.
47-14 Federal tax-exempt status; preference; protection.
47-15 Payment by director of finance.
47-16 Bond anticipation notes.
47-17 Refunding bonds authorized.
47-20 Garnishee to withhold funds.
47-21 Certificate furnished garnishee.
47-22 Garnishee to satisfy judgment.
47-24 Validation of proceedings.
47-25 Bonds negotiable, incontestable.
47-26 Provisions of chapter controlling.
47-32 Retirement of bonds from sinking fund money.
47-33 Purchase of bonds, when.
47-41 Request for replacement or payment.
47-44 Issuance of transferable certificate.