§ 14-120-240 - Lithographing and registration of bonds. - Arkansas Statutes

14-120-240. Lithographing and registration of bonds.

(a) The bonds shall be lithographed with such devices for identification and to prevent imitation as the board of directors may think proper.

(b) The secretary shall register the bonds in a book to be kept for that purpose as the bonds are issued, stating therein the date, letter, number, amount and place of payment, to whom issued and sold, of each bond, and shall take a receipt from the person to whom each of the bonds is delivered.

(c) The treasurer of the board shall keep a like register and shall show all bonds paid or taken up by the board. The register shall show when and to whom payment was made, and no bond or coupon paid or taken up by the board shall again be issued, but shall be cancelled by the treasurer and punched with an instrument provided for that purpose.