70A-3-309 - Enforcement of lost, destroyed, or stolen instrument.
70A-3-309. Enforcement of lost, destroyed, or stolen instrument.
(1) A person not in possession of an instrument is entitled to enforce the instrument if:
(a) the person was in possession of the instrument and entitled to enforce it when loss ofpossession occurred;
(b) the loss of possession was not the result of a transfer by the person or a lawfulseizure; and
(c) the person cannot reasonably obtain possession of the instrument because theinstrument was destroyed, its whereabouts cannot be determined, or it is in the wrongfulpossession of an unknown person or a person that cannot be found or is not amenable to serviceof process.
(2) A person seeking enforcement of an instrument under Subsection (1) must prove theterms of the instrument and the person's right to enforce the instrument. If that proof is made,Section 70A-3-308 applies to the case as if the person seeking enforcement had produced theinstrument. The court may not enter judgment in favor of the person seeking enforcement unless itfinds that the person required to pay the instrument is adequately protected against loss that mightoccur by reason of a claim by another person to enforce the instrument. Adequate protection maybe provided by any reasonable means.
Enacted by Chapter 237, 1993 General Session