Loss, theft, destruction, mutilation, or defacement of insured notes, insurance contracts, and certificates of beneficial ownership.

CFR · 2024-01-01 · US · Title 7

(a) (b) (1) A certificate of loss should be filed with Rural Development Finance Office. The certificate should include: (i) Legal name and present address of owner when issued, if different from present address. (ii) Capacity of person certifying, if other than the owner. (iii) Identity of the note or certificate of beneficial ownership, including the name and Rural Development case number of the maker thereof, issue date, interest rate of obligation, face amount of note or certificate of beneficial ownership, and a full description of any assignment, endorsement, or any other writing. (iv) A full statement of circumstances of the loss, theft, or destruction of the note. (2) An indemnity bond in the amount of the unpaid principal and interest will be required except in the following instances: (i) Substantially the entire note or certificate of beneficial ownership is presented and surrendered by the owner or holder, and the Director, Finance Office, is satisfied as to the identity of the instruments and that any missing portions are not sufficient to form the basis of a valid claim against the United States or the borrower; or (ii) The owner or holder is the United States, a Federal Reserve Bank, a Federal Government Corporation, a State or territory, or the District of Columbia. (3) An indemnity bond without surety will be provided in the following cases: (i) Cases involving registered unassigned obligations held by banks, trust companies, savings and loan associations, or

official document · source cfr-2024 · id 7:§ 1901.509