§39-8  Same, signatures.  When
bonds of the State are prepared and signed by the director of finance or a
deputy director of finance of the State and the comptroller of the State in
office at the time of such signing, the signatures of the director of finance
or deputy director of finance and comptroller shall be valid and sufficient for
all purposes, and shall have the same effect as if the persons officially
signing the bonds or whose facsimile signatures appear thereon had remained in
office until the delivery of the same to the initial purchasers thereof, and in
the case of fully registered bonds upon any exchange or transfer between
subsequent holders thereof, notwithstanding that the term of office of those
persons or any of them may have expired or they may otherwise have ceased to be
officers before the delivery, exchange, or transfer.  If the director of
finance shall have designated a registrar for fully registered bonds, the
director of finance may provide that no fully registered bond shall be valid or
obligatory for any purpose unless certified or authenticated by the registrar. 
If the director of finance shall have provided for a registrar, then
notwithstanding section 39-7, all signatures of the officers of the State upon
the fully registered bonds may be facsimiles of the officers' signatures, and
fully registered bonds shall be valid and sufficient only if certified or
authenticated by the manual signature of an authorized officer or signatory of
that registrar.  Anything to the contrary notwithstanding, if blanks of fully
registered bonds shall be held by a registrar pending exchange or transfer for
other fully registered bonds of the same series, then upon delivery of bonds in
an exchange or transfer, the bonds shall be valid and sufficient for all
purposes notwithstanding that the signature of the comptroller and the director
of finance or deputy director of finance appearing thereon shall be that of the
person in office at the time of initial delivery of the bonds or that of the
person in office at the time of such exchange or transfer. [L 1988, c 28, pt of
§3]