10-606. Registration of bonds by designated fiscal agents; record; notice; coupons; transfers; assignments; forms.
10-606
10-606. Registration of bonds by designated fiscal agents; record; notice;
coupons; transfers; assignments; forms.
The Kansas bank designated as the fiscal agent by the governing body of
a municipality shall register any bonds payable at the
office of the fiscal agent which the bondholder
may present, for recording in a book kept for that purpose, showing the
municipality issuing the bond, the series of the bond, the date, amount,
number, maturity, the purpose for which the bond was issued and
the name and post-office address of the bondholder. On
registering any bond, the fiscal agent shall notify the municipality
issuing the bond of its registration and the bond
shall be payable on
its maturity by the municipality through the fiscal agent. When the
fiscal agent registers any bond, the
registration shall be
evidenced by notation to that effect on the reverse side of the bond, after
which no transfer shall be valid unless made at the written request of
the registered owner or a duly authorized agent in writing and similarly
noted on the bond. The bond may be discharged from registration by
being registered to bearer and thereupon transferability
shall be restored. The bond may again be
registered or be transferred to bearer as before. Registration
shall not affect the negotiability of any interest coupons appertaining
to any bond issued prior to the effective date of this act.
The fiscal agent shall have printed forms for use in making such assignments
which shall be delivered to
persons desiring the same on request.
History: L. 1969, ch. 63, § 6; L. 1981, ch. 57, § 2; L. 1983,
ch. 49, § 35; May 12.