Things you need to know about Affidavit of Loss of Stock Certificate.
1. What is an Affidavit of Loss of Stock Certificate?
An Affidavit of Loss of Stock Certificate is a written statement under oath where a person (the “affiant”) declares the physical loss of a certain stock certificate. In short, it means the stock certificate is lost and can no longer be found. The loss can be due to inadvertent misplacement, theft, destruction by fire, flood or other means.
In practice, an authorized officer of the corporation executes the Affidavit of Loss of Stock Certificate (e.g. its corporate secretary).
2. When do you need an Affidavit of Loss of Stock Certificate?
An Affidavit of Loss of Stock Certificate is usually required when the owner wants to have the lost stock certificate replaced with a new one. In practice, companies require an Affidavit of Loss of Stock Certificate before issuing a replacement.
3. What information do you need to create the Affidavit of Loss of Stock Certificate?
To create your Affidavit of Loss of Stock Certificate you’ll need the following minimum information:
- The affiant’s name and details (i.e. position within the corporation, address);
- The stock certificate owner’s name;
- Brief description of the lost stock certificate;
- Brief explanation of how the stock certificate was lost; and
- The purpose why the affiant is executing the Affidavit of Loss of Stock Certificate.
4. How much is the document?
The document costs PHP 350 for a one-time purchase. Once purchased, you have unlimited use and revisions of this type of document.
You can also avail of Premium subscription at PHP 1,000 and get (a) unlimited use of our growing library of documents (from affidavits to contracts); and (b) unlimited use of our “Ask an Attorney” service, which lets you consult an expert lawyer anytime for any legal concern you have.