2014 Louisiana Laws
Revised Statutes
TITLE 39 - Public Finance
RS 39:567 - Registration as to interest
§567. Registration as to interest
Coupon bonds issued by any municipal corporation having a population of twenty thousand or more, according to the last federal census, or by any parish, may also be registered as to interest, and the coupons surrendered and interest made payable only to the registered holder of the bond. For that purpose the financial officer of the parish or municipal corporation shall detach and cancel the coupons and shall endorse a statement on the bonds that the coupon sheet issued therewith has been surrendered by the holder and the coupons cancelled by him, and that the semi-annual interest is thereafter to be paid to the registered holder or order by draft, check or warrant, drawn payable at a place of payment specified in the bond.
Bonds registered under this Section may with the consent of the municipal corporation or parish and holders of the bonds be reconverted into coupon bonds at the expense of the holder, and again reconverted into registered bonds from time to time as the governing authority of the municipal corporation or parish and the holders of the bonds may determine.
Parishes and municipal corporations are authorized to pass all resolutions and ordinances necessary to give effect to these provisions.
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