The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
35-431 - Registration of bond; effect; entry of registration
35-431. Registration of bond; effect; entry of registration
When the owner of a bond authorized to be issued by this article presents it to the director of the department of administration with a request for its conversion into a registered bond, the director of the department of administration shall detach and cancel the coupons, and stamp or write upon such bond that it is registered in the name of the owner and that thereafter the interest and principal of the bond are payable to the registered owner only. The bond may be transferred by the registered owner by presenting it to the director of the department of administration, and the bond shall again be registered. When so registered, the principal and interest of the bond shall be payable to the registered owner. The director of the department of administration shall enter in the register of bonds the registration of each bond and the name of the owner thereof.