§1116. Registration as to interest
Coupon bonds issued by any municipal corporation having a population of twenty thousand inhabitants, according to the last federal census, may also be registered as to interest, and the bonds surrendered and interest made payable only to the registered holder of the bonds. For that purpose the financial officer of the parish or municipal corporation shall detach and cancel the coupon 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; that annual or semi-annual interest shall thereafter be paid to the registered holder, or order by draft, check, or warrant drawn payable at the place of payment specified in the bond. Bonds registered under this Section may, with the consent of the municipal corporation or parish and the holders of the bonds, be reverted into coupon bonds at the expense of the holders, and again converted 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. The parishes and municipal corporations are authorized to pass all resolutions and ordinances necessary to give effect to these provisions.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
