Local Finance Law § 71.00 · Title 5. Local Obligations: Registration, Conversion and Reconversion Thereof

Conversion of coupon bonds into registered bonds

Verbatim from the official edition

Text — Law content up to date as of September 4, 2026, as published by the New York State Senate (Open Legislation)

§ 71.00 Conversion of coupon bonds into registered bonds. 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.

Source of truth

Edition: Law content up to date as of September 4, 2026, as published by the New York State Senate (Open Legislation)
Official file: https://legislation.nysenate.gov/pdf/laws/LFN71.00
Text hash: sha256 09c323d3a5b7d518b11cc0d8cc53d55f5dae71155c6ee9dac8b778ed66945147
Composed by: gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.