Any person requesting issuance of a duplicate security shall fulfill the following requirements:
(a) The making of an affidavit before the Secretary of the Treasury or before the director, head or administrator of the corresponding dependency, entity, public corporation or political subdivision of the Government of Puerto Rico which has issued the security, clearly and precisely setting forth his status of legitimate owner of the security and the circumstances under which said security was stolen, destroyed, disfigured, defaced or erased in whole or in part.
(b) Except where any of the circumstances described in § 49 of this title attend, the giving of an understanding in the form and for the amount determined by the Secretary of the Treasury or by the director, head or administrator of the corresponding dependency, entity, public corporation or political subdivision of the Government of Puerto Rico which has issued the security.
History —May 22, 1956, No. 20, p. 48, § 3.