Replacement of Share Certificates. If any share certificate is worn out or defaced, then, on production of that certificate to the Credit Union, the certificate may be cancelled and a new certificate issued in place of that certificate; and if any share certificate is lost or destroyed, then, subject to the Securities Transfer Act, on proof of the loss or destruction to the satisfaction of the Board and on giving such indemnity as the Board deems adequate, a new certificate in place of the lost or destroyed certificate will be issued to the party entitled to it.
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