§ 72.00 Reconversion of coupon bonds which have been converted into
registered bonds. a. If a coupon bond issued prior or subsequent to the
effective date of this chapter has been converted into a registered
bond, the registered holder, or his legal representatives, successors,
or transferees, may request the registration agent to notify him of the
charge for reconverting such bond into a coupon bond. The request shall
describe the bond and state whether coupons for the unmatured interest
or a new bond with coupons for the unmatured interest is desired. The
registration agent shall thereupon ascertain and notify the person
making such request of the expense of preparing such new bond or
coupons, and other actual and necessary expenses which will be incurred
for mailing, shipping or the insuring of such obligations. The holder,
or his legal representatives, successors, or transferees, may then
present such bond with a written request for its reconversion, which
request shall be duly acknowledged or proved, or in the alternative, the
signature of the person making such request shall be certified as to its
genuineness by an officer of a bank or trust company located and
authorized to do business in this state, and shall at the same time pay
the said expenses for such reconversion, to the registration agent.
Notwithstanding the foregoing provisions of this paragraph, coupon bonds
of an issue originally sold to the state of New York municipal bond bank
agency may provide that such bonds may be reconverted from time to time
without charge or subject to such limited charge as may be provided
therein.

b. The registration agent shall thereupon cause the coupons, or the
new bond with coupons, as the case may be, to be prepared. They shall be
of substantially the same form and tenor as those originally issued,
except that the new bond if issued shall be signed by the appropriate
persons in office at the time of such reconversion and shall bear the
date of the original bond and the coupons shall bear the facsimile
signature of the appropriate person in office at the time of such
reconversion. There shall be endorsed on such new bond the following
statement, "This bond has been reconverted and reissued on the day
of ,19 . " If a new bond is issued, the original bond shall be
destroyed, and the registration agent shall make an appropriate entry in
his books of such destruction and reconversion. If a new bond is not
issued, the registration agent shall attach the coupons to the original
bond and shall register the bond in his books as payable to bearer, and
shall endorse a certificate of such registration upon the bond.

c. Any bond so reconverted may again and from time to time be
converted into a registered bond and reconverted into a coupon bond in
the manner provided in this section and section 71.00 of this chapter.