2023 New York Laws › LFN - Local Finance › Article 2 - Local Indebtedness › Title 5 - Local Obligations: Registration, Conversion and Reconversion Thereof › 72.00 - Reconversion of Coupon Bonds Which Have Been Converted Into Registered Bonds.

§  72.00  Reconversion  of coupon bonds which have been converted into
  registered bonds.  a. If a coupon bond issued prior or subsequent to the
  effective date of this chapter has  been  converted  into  a  registered
  bond,  the  registered holder, or his legal representatives, successors,
  or transferees, may request the registration agent to notify him of  the
  charge  for reconverting such bond into a coupon bond. The request shall
  describe the bond and state whether coupons for the  unmatured  interest
  or  a  new  bond with coupons for the unmatured interest is desired. The
  registration agent shall  thereupon  ascertain  and  notify  the  person
  making  such  request  of  the  expense  of  preparing  such new bond or
  coupons, and other actual and necessary expenses which will be  incurred
  for  mailing,  shipping or the insuring of such obligations. The holder,
  or his legal  representatives,  successors,  or  transferees,  may  then
  present  such  bond  with  a written request for its reconversion, which
  request shall be duly acknowledged or proved, or in the alternative, the
  signature of the person making such request shall be certified as to its
  genuineness by an officer  of  a  bank  or  trust  company  located  and
  authorized  to do business in this state, and shall at the same time pay
  the said expenses for such  reconversion,  to  the  registration  agent.
  Notwithstanding the foregoing provisions of this paragraph, coupon bonds
  of an issue originally sold to the state of New York municipal bond bank
  agency  may provide that such bonds may be reconverted from time to time
  without charge or subject to such limited  charge  as  may  be  provided
  therein.
b.  The  registration  agent shall thereupon cause the coupons, or the
  new bond with coupons, as the case may be, to be prepared. They shall be
  of substantially the same form and tenor  as  those  originally  issued,
  except  that  the  new bond if issued shall be signed by the appropriate
  persons in office at the time of such reconversion and  shall  bear  the
  date  of  the  original  bond  and  the coupons shall bear the facsimile
  signature of the appropriate person  in  office  at  the  time  of  such
  reconversion.  There  shall  be  endorsed on such new bond the following
  statement, "This bond has been reconverted and reissued on the       day
  of          ,19  . " If a new bond is issued, the original bond shall be
  destroyed, and the registration agent shall make an appropriate entry in
  his books of such destruction and reconversion.  If a new  bond  is  not
  issued,  the registration agent shall attach the coupons to the original
  bond and shall register the bond in his books as payable to bearer,  and
  shall endorse a certificate of such registration upon the bond.
c.  Any  bond  so  reconverted  may  again  and  from  time to time be
  converted into a registered bond and reconverted into a coupon  bond  in
  the manner provided in this section and section 71.00 of this chapter.