§11-36-302. Registration of bonds.
200 words·~1 min read·
/ok/title-11-cities-and-towns/11-36-302·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The bonds shall be registered by the clerk of the municipality in a book to be provided for that purpose. The book shall show a description of the bond, the name and address of the owner or holder, and the date of registration. Upon the books of the treasurer shall be noted the name of the holder of the bond and his address. The bond shall be endorsed by the clerk over his signature, or a facsimile of his signature, the legend "registered in my office". Each bond shall bear a certificate of registration.
Any subsequent holder may cause the same to be registered in the name of the holder upon submission of proper proof of ownership. After registration of any bond, no transfer or assignment thereof shall be valid until such transfer or assignment has been registered with the municipal clerk. Nothing herein shall prevent the appointment and compensation by the municipality of a registrar, transfer, authenticating, paying or other agents to effect the transfer of ownership or change of payee of any bonds issued by the municipality and to maintain books and records relating thereto.
Amended by Laws 1983, c. 170, § 15, eff. July 1, 1983. d