Lost Certificate Replacement
Any certificate which has been lost, stolen, or destroyed should be reported to Island Stock Transfer immediately in writing via email, fax, mail, or courier. At such time, Island will red flag the certificate to prohibit its transfer and cause Island Stock Transfer to notify the shareholder and/or issuer immediately if the lost certificate is presented for transfer.
To replace a lost, stolen, or destroyed certificate, Island Stock Transfer must receive all necessary paperwork from the shareholder or issuer so as to be covered under a surety/indemnity bond. The shareholder may obtain a surety bond independently, or the shareholder may opt to use Island’s blanket surety bond. To use Island Stock Transfer’s blanket surety bond, the shareholder must present the following to Island:
1. Application for Lost Instrument Bond form, 2 copies, signed and notarized*
(If market value of holders' position is over $75,000: Holder will need to send two fully completed, signed & notarized application for lost instrument bonds to Island Stock Transfer. The financial statement on the application will need to be completed and will have to show 2 1/2 times the value of the lost certificate in liquid assets for the surety bond to be approved.)
2. Payment in full for Surety Bond Premium
If domestic shareholder (located in US or Canada): 2% the value of the stock at the time the application for lost instrument bond is signed and notarized.
If international shareholder (located outside the US and Canada): 4% the value of the stock at the time the application for lost instrument bond is signed and notarized.
Minimum Premium: $50
3. Transfer Fees and Delivery Instructions (these fees can vary depending if the request is coming from the shareholder or broker).
$150 to replace each stock certificate ( US and Canada), or $300 to replace each stock certificate (Foreign).
Delivery instructions for new stock certificate and contact information must be included with the replacement request. A prepaid waybill or courier account number can be submitted to deliver the new stock certificate or to use Island's courier account (FedEx), please include $45 to ship domestically or $85 internationally.
Upon receipt of all the necessary documentation and fees, Island Stock Transfer will replace the lost certificate and deliver the replacement certificate according to the shareholder/issuer/issuer’s request via courier.
Application for Lost instrument Bond
(US & Canada)
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