(1)    Issuance. A cooperative may issue a replacement certificate of membership interest under s. 193.621 using the procedure specified in s. 408.405 (1), if the owner of the membership interest represented in a certificate claims that the certificate has been lost, destroyed or wrongfully taken.

   (2)   Not an overissue. The issuance of a replacement certificate under sub. (1) is not an overissue of the membership interest it represents.