Is a surety bond required before a certified check that has been lost for a year and a half can be reissued?

UPDATED: Jul 6, 2012

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Is a surety bond required before a certified check that has been lost for a year and a half can be reissued?

I lost a certified cashier’s check given to me by my brother a year and a half ago I believe it was shredded by mistake. The credit union where the check was issued is telling me that I need to sign an affidavit of loss/indemnity agreement as well as buy a surety bond. From what I have read in the Uniform Commercial Code, a surety bond isn’t necessary if it has been longer than 90 days. Do credit unions have to operate according to the UCC or is that not enforced? Is there no way for me to get the checks reissued without a surety bond?

Asked on July 6, 2012 under Bankruptcy Law, Kentucky


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Different lending institutions or credit unions have different policies with respect to lost cashier's checks regardless of what the Uniform Commercial code may state as a possible way to resolve a lost check.

If the credit union that issued the cashier's check that was lost or shredded wants a surety bond in addition to the affidavit of loss and indemnity agreement signed and dated by you, then that is the requirement that must be adhered to if you want to get the cashier's check replaced.

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