Who is reposible for Lost Certificate fee?

[prowdmonky]

If a general partner mails stock certicates to a IRA Custodian and the certificates never make it to the Custodian. Who is resposible for the replacement fee of this certificate?
Does the general partner have to prove that we received these shares with our signature?

More info: The Custodian never was aware of the stock being issued until years later when the general partner is now requesting all certificate be returned for final payout. This general partner is now having a Transfer agent process all transactions on these shares and the transfer agent is requesting fees to replace the certificates.

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[Tracey]

Tell the GP to deal with this mess since he caused it. He decided to hire the transfer agent instead of re-issuing the certificates himself. He should have to pay the fee unless he can show that the custodian received the certificates & lost them. He was negligent in the first place for not using certified mail, which would have caught this error long ago.

He may not agree, but it's worth a try anyway.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.

[This message has been edited by Tracey (edited June 28, 2000).]