Sec. 7-377a. Destruction of bonds and notes after payment or transfer of ownership.
181 words·~1 min read·
/ct/title-7/chapter-109-municipal-bond-issues/7-377a·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any town or municipality, as defined in subsection
(a)of section 7-374 , or other body politic and corporate organized and existing under the laws of the state may destroy or provide for the destruction of any of its bonds, notes or bond coupons after they have been paid and cancelled or after their surrender in any transfer or exchange. Such destruction, by burning or otherwise, may be performed by the treasurer of such town, municipality or body politic and corporate, or by any bank or trust company organized and existing under the laws of any state, or of the United States, and authorized to destroy such bonds by such treasurer. A certificate of such destruction, signed by such treasurer and a witness to the destruction if such destruction is by such treasurer, or by a representative of such bank or trust company and a witness to such destruction if such destruction is by a bank or trust company, shall be kept on file with the clerk of such town or municipality or the secretary of such body politic and corporate.