§ 1781 - -Change of coupon bonds to registered bonds - Vermont Statutes

§ 1781. -Change of coupon bonds to registered bonds

In case a municipal corporation shall have issued coupon bonds and the owner or holder thereof has requested that such bonds be changed to registered bonds as herein provided, then upon written request of such change, duly acknowledged, the treasurer of such a municipal corporation, if directed by the city council of the city, selectmen of the town, school directors of the town school district, or other corresponding officers of the municipal corporation of which he is such treasurer, as the case may be, shall cut off and destroy the coupons on the bonds presented for registration and indorse upon the back of each of such bonds over his official signature a certificate of registration in substantially the form prescribed by section 1782 of this title, inserting in the appropriate places the date of such registration, the name and address of the registered holder, and his own signature as transfer agent. Thereafter such bond shall be transferable only upon the books of such municipality upon presentation to the treasurer thereof with a written assignment duly acknowledged or proved.