N.Y. LFN Law § 74.00

§ 74.00 Conversion and reconversion of notes. a. A note payable to\nbearer, if it so provides, shall be converted into a registered note at\nthe request of the holder. The registration agent shall register such\nnote in his books in the name of the holder and endorse a certificate of\nsuch registration upon the note. In like manner, at the written request\nof the registered holder of the note so converted, or his legal\nrepresentatives, successors, or transferees, the registration agent\nshall reconvert such note into a note payable to bearer by registering\nsuch note in his books as payable to bearer and endorsing a certificate\nof such registration upon the note. Such request shall be duly\nacknowledged or proved, or in the alternative the signature thereto\nshall be certified as to its genuineness by an officer of a bank or\ntrust company located and authorized to do business in this state. Such\nnote may again and from time to time be converted into a registered note\nand reconverted into a note payable to bearer in the manner provided in\nthis paragraph.\n b. A note issued in registered form, if it so provides, shall be\nconverted into a note payable to bearer at the written request of the\nregistered holder, or his legal representatives, successors, or\ntransferees. Such request shall be duly acknowledged or proved, or in\nthe alternative the signature thereto shall be certified as to its\ngenuineness by an officer of a bank or trust company located and\nauthorized to do business in this state. The registration agent shall\nregister such note in his books as payable to bearer, and shall endorse\na certificate of such registration upon the note. In like manner, at the\nrequest of the holder of a note so converted, the registration agent\nshall reconvert such note into a registered note by registering such\nnote in his books in the name of the holder and endorsing a certificate\nof such registration upon the note. Such note may again and from time to\ntime be converted into a note payable to bearer and reconverted into a\nregistered note in the manner provided in this paragraph.\n