This text of New York § 72.00 (Reconversion of coupon bonds which have been converted into registered bonds) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 72.00 Reconversion of coupon bonds which have been converted into\nregistered bonds.
a.If a coupon bond issued prior or subsequent to the\neffective date of this chapter has been converted into a registered\nbond, the registered holder, or his legal representatives, successors,\nor transferees, may request the registration agent to notify him of the\ncharge for reconverting such bond into a coupon bond. The request shall\ndescribe the bond and state whether coupons for the unmatured interest\nor a new bond with coupons for the unmatured interest is desired. The\nregistration agent shall thereupon ascertain and notify the person\nmaking such request of the expense of preparing such new bond or\ncoupons, and other actual and necessary expenses which will be incurred\nfor mailing, shipp
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§ 72.00 Reconversion of coupon bonds which have been converted into\nregistered bonds. a. If a coupon bond issued prior or subsequent to the\neffective date of this chapter has been converted into a registered\nbond, the registered holder, or his legal representatives, successors,\nor transferees, may request the registration agent to notify him of the\ncharge for reconverting such bond into a coupon bond. The request shall\ndescribe the bond and state whether coupons for the unmatured interest\nor a new bond with coupons for the unmatured interest is desired. The\nregistration agent shall thereupon ascertain and notify the person\nmaking such request of the expense of preparing such new bond or\ncoupons, and other actual and necessary expenses which will be incurred\nfor mailing, shipping or the insuring of such obligations. The holder,\nor his legal representatives, successors, or transferees, may then\npresent such bond with a written request for its reconversion, which\nrequest shall be duly acknowledged or proved, or in the alternative, the\nsignature of the person making such request shall be certified as to its\ngenuineness by an officer of a bank or trust company located and\nauthorized to do business in this state, and shall at the same time pay\nthe said expenses for such reconversion, to the registration agent.\nNotwithstanding the foregoing provisions of this paragraph, coupon bonds\nof an issue originally sold to the state of New York municipal bond bank\nagency may provide that such bonds may be reconverted from time to time\nwithout charge or subject to such limited charge as may be provided\ntherein.\n b. The registration agent shall thereupon cause the coupons, or the\nnew bond with coupons, as the case may be, to be prepared. They shall be\nof substantially the same form and tenor as those originally issued,\nexcept that the new bond if issued shall be signed by the appropriate\npersons in office at the time of such reconversion and shall bear the\ndate of the original bond and the coupons shall bear the facsimile\nsignature of the appropriate person in office at the time of such\nreconversion. There shall be endorsed on such new bond the following\nstatement, "This bond has been reconverted and reissued on the day\nof ,19 . " If a new bond is issued, the original bond shall be\ndestroyed, and the registration agent shall make an appropriate entry in\nhis books of such destruction and reconversion. If a new bond is not\nissued, the registration agent shall attach the coupons to the original\nbond and shall register the bond in his books as payable to bearer, and\nshall endorse a certificate of such registration upon the bond.\n c. Any bond so reconverted may again and from time to time be\nconverted into a registered bond and reconverted into a coupon bond in\nthe manner provided in this section and section 71.00 of this chapter.\n