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2022 New York Laws
LFN - Local Finance
Article 2 - Local Indebtedness
Title 5 - Local Obligations: Registration, Conversion and Reconversion Thereof
73.00 - Conversion and Reconversion of Registered Bonds.

Universal Citation: NY Loc Fin L § 73.00 (2022)
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§  73.00  Conversion  and reconversion of registered bonds.  a. A bond
  issue in registered form, if it so provides, shall be converted  into  a
  coupon  bond  at  the  request  of  the  registered holder, or his legal
  representatives, successors or transferees, in the  same  manner  as  is
  provided  in  section  72.00  of  this chapter for the reconversion of a
  coupon bond which has been converted into a registered bond, except that
  only a new bond with coupons shall be issued. Such new coupon bond shall
  be payable  according  to  the  terms  of  the  original  bond.  A  bond
  heretofore  or  hereafter  issued  in  registered  form,  which does not
  provide that it may be converted into a coupon bond, shall be  converted
  into  a coupon bond at the request of the registered holder or his legal
  representatives, successors or transferees, provided the issue of  which
  such  bond is a part was sold at public sale and the notice of such sale
  provided for the issuance of bonds in bearer form with coupons with  the
  right of conversion into registered form, and provided the finance board
  of  the  issuer shall adopt a resolution authorizing such conversion and
  prescribing the form of the bond and the coupons for unmatured interest.
  Such bond, in such event, shall be converted in the same  manner  as  is
  provided  in  section  72.00  of  this chapter for the reconversion of a
  coupon bond which has been converted into a registered bond, except that
  only a new bond with coupons shall be issued and such  new  coupon  bond
  shall be payable according to the terms of the original bond.

b.  A  registered  bond which has been so converted may be reconverted
  into a registered bond in the same manner  as  is  provided  in  section
  71.00  of  this  chapter  for  the  conversion  of  a coupon bond into a
  registered bond.

c. Such bond may again and from time  to  time  be  converted  into  a
  coupon  bond  and  reconverted  into  a  registered  bond  in the manner
  provided in this section.

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