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TeachMeFinance.com - explain Destroyed or defaced securities historic definition... Destroyed or defaced securities -- A new certificate can be secured in place of a destroyed stock or bond by furnishing proof of destruction, together with a bond of indemnity for double the amount of the stock certificate or bond. A defaced stock certificate or bond, if the defacement does not obliterate amounts and names, can generally be exchanged for a new one by ordinary transfer. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.