Section 260: Indemnity bond.

Where an application is made to the registrar under this part of this Act for the issue of a duplicate security or for the exchange, renewal, consolidation or subdivision of any bond or securities, the registrar may require the applicant as a condition precedent to the grant of the application, to execute a bond with or without sureties undertaking to indemnify the body concerned against the claims of all persons claiming under the original bond certificate or securities or under the bond or securities so exchanged, renewed, consolidated or subdivided, as the case may be.