Section 71.00. Conversion of coupon bonds into registered bonds  


Latest version.
  • a. If a
      coupon bond so provides, the holder thereof may present such bond to the
      registration agent with a written request  for  its  conversion  into  a
      registered  bond.  The  registration  agent  shall thereupon cut off and
      destroy the coupons and endorse a certificate of  such  conversion  upon
      the bond.
        b.  The  certificate of conversion shall contain a statement, properly
      dated, of the amount and value of such coupons, and that  the  interest,
      at  the  rate and on the dates stated in the bond and as was provided by
      the coupons, as well as the principal, is to be paid to  the  registered
      holder,  his  legal  representatives,  successors or transferees, at the
      place or places stated in the bond and as was  stated  in  the  coupons,
      unless such place or places shall be changed with the written consent of
      the holder.
        c. When the coupons have been cut off and destroyed, and a certificate
      of  conversion has been properly endorsed upon the bond, such bond shall
      then be registered as provided in section 75.00 of this chapter.