(a) A person entitled to enforce an instrument, but who is not in possession of the instrument, retains the right of enforcement if the loss of possession is not the result of a voluntary transfer or a legitimate taking and such person may not reasonably reacquire the instrument because the same has been destroyed, lost or stolen.
(b) A person seeking enforcement of an instrument under subsection (a) of this section must prove the terms of the instrument and the person’s right to enforce the instrument. If that proof is made, § 608 of this title applies as if the instrument had been produced. Judgment in favor of the person seeking enforcement must be based on a finding that the person required to pay the instrument is adequately protected against loss that might occur by reason of a claim by another person to enforce the instrument.
History —Aug. 17, 1995, No. 208, § 2-309; Aug. 31, 1996, No. 176, § 2.