Florida Statute 678.4051 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 678
UNIFORM COMMERCIAL CODE: INVESTMENT SECURITIES

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678.4051 Replacement of lost, destroyed, or wrongfully taken security certificate.—

(1) If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed, or wrongfully taken, the issuer shall issue a new certificate if the owner:

(a) So requests before the issuer has notice that the certificate has been acquired by a protected purchaser.

(b) Files with the issuer a sufficient indemnity bond.

(2) If, after the issue of a new security certificate, a protected purchaser of the original certificate presents it for registration of transfer, the issuer shall register the transfer unless an overissue would result. In that case, the issuer’s liability is governed by s. 678.2101. In addition to any rights on the indemnity bond, an issuer may recover the new certificate from a person to whom it was issued or any person taking under that person, except a protected purchaser.

History.—s. 4, ch. 98-11.

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Amendments to 678.4051

Annotations, Discussions, Cases:

Cases Citing Statute 678.4051

Total Results: 2 | Sort by: Relevance | Newest First

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John G. Schanck v. William M. Gayhart & Debra L. Buchanan, etc., 245 So. 3d 970 (Fla. 1st DCA 2018).

Cited 3 times | Published | Florida 1st District Court of Appeal

...required to direct its order to Stellar and DataSignals rather than to him, and these entities needed to be made parties to the case. We disagree. The issuer of a certificated security must reissue a certificate upon request from the owner of the certificate. See § 678.4051, Fla....

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State v. Moore, 892 So. 2d 1218 (Fla. 1st DCA 2005).

Published | Florida 1st District Court of Appeal | 2005 Fla. App. LEXIS 1444, 2005 WL 350321

...To resolve this issue we must look to chapter 678, Florida Statutes (2000), governing certificated securities, to determine whether the facts of this case gave rise to a disposition or transfer of the stock represented by certificate # 2030. 1 *1220 Section 678.4051(1), Florida Statutes (2000), provides that an owner of a certificated security is entitled to a replacement certificate if the original certificate is lost, destroyed, or taken. After the issuance of the new certificate, however, the stock issuer must accept the original certificate, if presented by a “protected purchaser,” and then seek recovery from the person that requested the replacement certificate. Id. § 678.4051(2)....

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