N.Y. General Business Law Section 394
Lost or destroyed certificate of stock


1.

The owner of shares represented by a lost or destroyed certificate of stock, if the corporation shall refuse to issue a new certificate in place thereof, may apply to the supreme court, at any special term held in the district where he resides, or in which the office of the corporation is located, for an order requiring the corporation to show cause why it should not be required to issue a new certificate in place of the one lost or destroyed. The application shall be by petition, duly verified by the owner, stating that it is made pursuant to this section, the name of the corporation, the number and date of the certificate and to whom issued, if known or if it can be ascertained by the petitioner, the number of shares represented thereby, and as particular a statement of the circumstances attending such loss or destruction as the petitioner can give. Upon the presentation of the petition the court shall make an order requiring the corporation to show cause, at a time and place therein mentioned, why it should not issue a new certificate of stock in place of the one described in the petition. A copy of the petition and order shall be served on the corporation, in the manner prescribed for the service of a summons in an action against a corporation, at least twenty days before the return of the order to show cause. Notice of the application shall be given to the stockholder of record if he is a person other than the petitioner and if he is known to the petitioner, and to such other persons as the court may direct; such notice shall be given in such manner by publication or otherwise as the court may direct.

2.

Upon the return of the order, with proof of due service thereof, the court shall inquire into the truth of the allegations of the petition and hear the proofs of the parties in regard thereto. The court, if satisfied that the petitioner is the lawful owner of the shares, or any part thereof, described in the petition, and that the certificate therefor has been lost or destroyed and cannot after due diligence be found, and that no sufficient cause has been shown why a new certificate should not be issued, shall make an order requiring the corporation, within a time specified, to issue and deliver to the petitioner a new certificate for the number of shares specified in the order, upon the petitioner depositing in such public office as the court may designate security or a bond to indemnify the corporation against any liability or expense which it may incur by reason of the original certificate remaining outstanding. Such security or bond shall be in an amount which shall appear to the court sufficient in the circumstances of the case to protect the interests of any persons to whom the corporation may incur liability, and shall be in such form and with such sureties as the court shall approve. The court may also in its discretion order the payment of the corporation’s reasonable costs and counsel fees.

3.

The issuance of a new certificate under an order of the court shall not relieve the corporation from liability in damages to a transferee of the original certificate in good faith and for value. The corporation shall not be liable to any such transferee in an amount in excess of the amount of the bond or the amount of the security required to be deposited.

4.

In case of conflict between this section and section 8--405 or 8--406 of the uniform commercial code, this section shall control.

Source: Section 394 — Lost or destroyed certificate of stock, https://www.­nysenate.­gov/legislation/laws/GBS/394 (updated Sep. 22, 2014; accessed Apr. 27, 2024).

390
Substitution of spurious oils for internal combustion engines
390‑A
Optical discs
390‑B
Anti-phishing act of 2006
390‑BB
Cramming prohibited
390‑C
Prohibit persons under eighteen years of age in certain facilities
390‑C*2
Posting of warnings by commercial entities offering internet access to the public
390‑D
Information concerning services for human trafficking victims in facilities at truck stops
390‑E
Unauthorized installation of certain security devices prohibited
390‑E*2
Skimming awareness notice
391
Marking retreaded, recapped or recut tires
391‑A
Unlawful acts relating to liquid fuels, lubricating oils and similar products
391‑B
Prohibit any sale of dangerous clothing articles
391‑C
Sale of bicycles
391‑D
Sale of matchbooks
391‑E
Promotion of camps by certain organizations
391‑F
Promotion of private schools by certain organizations
391‑G
Rental of motor vehicles
391‑H
Lubricating oils
391‑I
Sale of urea-formaldehyde foam insulation
391‑J
Sale of fire extinguishers
391‑JJ
Sale of electric space heaters
391‑K
Automatic garage door opening systems
391‑L
Personal emergency response service agreements
391‑L*2
Rental of motor vehicles
391‑M
Manufacture and sale of in-line skates
391‑N
Sale of reptiles
391‑OO
Sale of over-the-counter diet pills and dietary supplements for weight loss or muscle building
391‑P
Prohibit the rental of clothing articles previously worn
391‑Q
Rebates
391‑S
Sale and distribution of novelty lighters prohibited
391‑T
Sale of small animals
391‑U
Pricing goods and services on the basis of gender prohibited
391‑U*2
Restrictions on the sale and use of firefighting equipment containing PFAS chemicals
391‑V
Third-party food delivery agreements
392
Second-hand watches
392‑A
Sale of new computers
392‑B
False labels and misrepresentations
392‑C
Obliteration of marks of origin
392‑D
Using false marks as to manufacture
392‑E
Using false statements or altering mileage registering devices
392‑F
Taximeters
392‑G
Sale of ultraviolet radiation devices
392‑H
Trash receptacles
392‑I
Prices reduced to reflect change in sales tax computation
392‑J
Sales of sparkling devices
393
Lime
393‑A
Non fire rated wood paneling
393‑B
Written solicitation
393‑C
Sale of required labor postings
393‑D
Sale of certified copies of property deeds
393‑E
Sale of abandoned property location services
393‑F
Voluntary third-party notification
394
Lost or destroyed certificate of stock
394‑A
Proof of lost negotiable paper
394‑B
Limitations on certain contracts for instruction or use of physical or social training facilities
394‑C
Limitations on certain contracts involving social referral services
394‑CC
Internet dating safety
394‑CCC
Social media networks
394‑D
Privity of contract between franchise seller and customer or patron of dealer
394‑E
Report on request for abortional services
394‑F
Warrants for reproductive health related electronic data
395
Required disclosure of prior use
395‑A
Maintenance agreements
395‑B
Unlawfully installing or maintaining a two-way mirror or other viewing device
396
Unlawful selling practices
396‑A
Representation by savings and loan association of insurance on accounts
396‑AA
Simulated check
396‑AA*2
Unsolicited telefacsimile advertising
396‑AAA
Public display of tobacco and electronic cigarette advertisements and smoking paraphernalia prohibited
396‑B
Advertisements
396‑BB
Sale of motor fuels to disabled persons
396‑C
Advertisements by persons engaged in dental business relating to dentures and bridges
396‑CC
Notification of enclosure requirements for swimming pools
396‑CC*2
Senior citizen discounts
396‑D
Advertisement and description of real property
396‑DD
Renting of horses
396‑E
Marking articles made of linen
396‑EE
Sale of certain weapons
396‑EEE
Unlawful sale or delivery of body armor
396‑F
Sale of blind made products
396‑G
Sale of products processed by the blind
396‑H
Fraudulent sale of poppies, forget-me-nots, daisies, flags and other articles sold for patriotic purposes
396‑HH
Sale of poppies, forget-me-nots, daisies, flags and other articles for patriotic purposes
396‑I
Acceptance of unexpired gift certificates
396‑J
Sale or possession of master or manipulative keys for motor vehicles
396‑K
Hazardous toys and other articles intended primarily for use by children
396‑K*2
Sale of certain motor vehicles damaged by the ravages of natural disaster
396‑KK
Sale of video game consoles
396‑L
Shopping carts
396‑M
Mail-order or telephone-order merchandise
396‑MM
Unlawful trial offers
396‑N
Sales with “money back guarantee” and with “limited guarantee”
396‑O
Sales by persons offering credits or refunds in certain cases
396‑P
Rates to be posted in taxicabs
396‑P*2
Contracts for the sale of new motor vehicles
396‑Q
New motor vehicles
396‑QQ
New and used motor vehicles
396‑R
Price gouging
396‑RR
Price gouging
396‑S
Individual sewage disposal system
396‑SS
Access number notification
396‑T
Unlawful practices relating to layaway plans
396‑TT
Listing of business location in directory or database
396‑U
Merchandise delivery
396‑V
Operation of public automated blood pressure machines
396‑W
Loitering for the purpose of soliciting passengers for transportation
396‑X
Gasoline stations
396‑X*2
Unauthorized removal or destruction of newspapers
396‑Y
Sale of certain personal property
396‑Z
Rental vehicle protections
397
Unlawful use of name or other identification of certain non-profit organizations
397‑A
Distributing unsolicited advertising on private property prohibited
397‑B
Digital billboards
398
Bills of lading to be issued by vessels transporting merchandise within the state
398‑A
Shipment of motor vehicles outside the continental United States
398‑B
Discrimination in car rentals prohibited
398‑C
Children attending roller skating rinks and indoor ice skating rinks under certain conditions
398‑D
Disposal of abandoned molds
398‑E
Indemnity provision in motor carrier transportation contracts
398‑F
Children’s non-regulated camp
399
Cigarette package labeling
399‑A
Pay toilets
399‑AA
Prohibition of the selling of fur, hair, skin or flesh of a dog or cat
399‑AAA
Selling and manufacturing of fur-bearing articles of clothing
399‑AAAA
Menstrual product labeling
399‑AAAAA
Selling of animal tested cosmetics
399‑B
Contracts for the use of the streets for hack stands
399‑BB
Certain dry cleaning institutions
399‑BBB
Solicitations by container
399‑C
Mandatory arbitration clauses in certain consumer contracts prohibited
399‑CC
Wireless telephone numbers
399‑CC*2
Transcripts and stenographic services
399‑CCC
Smoke detecting devices
399‑CCCC
Wireless telephone services
399‑D
Children attending public bowling alleys under certain conditions
399‑DD
Sale of alcohol vaporizing devices prohibited
399‑DD*2
Construction or installation of playground or playground equipment
399‑DD*3
Consumer communications records privacy
399‑DDD
Confidentiality of social security account number
399‑DDD*2
Disclosure of social security number
399‑E
Prohibition of the importation, manufacturing, distribution, or sale of yo-yo waterball toys
399‑E*2
Actions
399‑EE
Zone pricing of gasoline prohibited
399‑F
Laundromat refund procedures
399‑FF
Petting zoos
399‑GG
Packaging of electronic liquid
399‑H
Disposal of records containing personal identifying information
399‑I
Prohibit the sale of unsafe cribs and restrict use of such cribs in certain settings
399‑II
Furniture tip restraint device
399‑II*2
Prohibit the sale of crib bumper pads and restrict use of such pads in certain settings
399‑J
Safety standards
399‑K
Access to toilet facilities for utility workers
399‑M
Disclosures in advertisement and sale of unassembled goods
399‑N
Approval of electrical devices
399‑NN
Sale of digital electronic equipment
399‑O
Selling prices and container deposits
399‑OO
Deceptive solicitation of vehicle warranty policies
399‑P
Telemarketing
399‑PP
Telemarketing and consumer fraud and abuse prevention act
399‑Q
Use of carts, cases, trays, baskets, boxes and other containers
399‑QQ
Sale or promotional distribution of utility knives, box cutters, or box cart cutters
399‑R
Sale of paint pellet guns
399‑RR
September eleventh victim compensation fund and World Trade Center health program notification
399‑S
Posting of notice when air rifles or guns are sold
399‑T
Sale of certain chlorofluorocarbons and halons prohibited
399‑T*2
Vending machine disclosure
399‑U
Motor vehicle alarms
399‑V
Parking facilities
399‑W
Total loss notice and waiver of the gap amount for non-motor vehicle retail lease agreements
399‑W*2
Notice requirements for renters of personal property
399‑X
Towed motor vehicles
399‑XX
Towing of motor vehicles
399‑Y
Child safety devices for hot water dispensers
399‑Y‑1
Automated teller machines transaction denial
399‑Y*2
Automated teller machine fee disclosure
399‑YY
Cable television company providing telephone services
399‑YYY
Satellite television company providing television and/or telephone services
399‑Z
Telemarketing
399‑Z‑1
Telecommunication companies blocking certain numbers
399‑Z‑1*2
STIR/SHAKEN authentication framework
399‑ZZ
Telephone bills
399‑ZZZ
Prohibition of certain fee charges
399‑ZZZZ
Prohibition of certain fee charges for termination or early cancellation
399‑ZZZZZ
Broadband service for low-income consumers
399‑ZZZZZ*2
Use of preferred name and pronouns

Accessed:
Apr. 27, 2024

Last modified:
Sep. 22, 2014

§ 394’s source at nysenate​.gov

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