N.Y. LFN Law § 75.00

§ 75.00 Registration of obligations. a. A coupon bond which has been\nconverted into registered form in the manner provided in section 71.00\nof this chapter and, at the request of the owner, a bond issued in\nregistered form or a note issued in registered form or which provides\nthat it may be registered, shall be registered in the name of the owner,\nor a nominee, as to both principal and interest and not otherwise, in\nsuitable books kept for such purpose in the office of the fiscal agent,\nand a certificate of such registration shall be endorsed upon the bond\nor note by such fiscal agent.\n b. A bond or note which has been so registered shall be transferable\nupon presentation to the fiscal agent with a written transfer of title\nof the registered owner. Such transfer shall be dated, and signed by\nsuch registered owner, or his legal representatives. Such transfer shall\nbe duly acknowledged or proved, or in the alternative the signature\nthereto shall be certified as to its genuineness by an officer of a bank\nor trust company located and authorized to do business in this state.\nThe name of the transferee shall be entered in the books kept by the\nfiscal agent and a certificate of such registration shall be endorsed\nupon the bond or note so transferred, in the same manner as the original\nregistration. However, instead of transferring obligations as provided\nabove in this paragraph, a municipality, school district or district\ncorporation may issue new registered obligations in place of the old in\naccordance with regulations prescribed by the state comptroller by a\nrule or order to be filed in his office and such other office as he may\ndesignate.\n c. No interest shall be paid on a bond or note issued in registered\nform until the name of the payee has been inserted therein and such bond\nor note has been registered as provided in paragraph a of this section.\n d. The principal of, redemption premium, if any, and interest on a\nbond or note which has been registered shall be payable only to the\nregistered owner, his legal representatives, successors or transferees.\n e. As an alternative to the procedures for transfer of registration\notherwise set forth in this section, the finance board of a\nmunicipality, school district or district corporation, or, in the case\nof the city of New York, the chief fiscal officer thereof, may provide\nfor the transfer of registration of obligations by book entry on the\nrecords of the fiscal agent or other entity designated for such purpose\nand may enter into such contractual arrangements as may be necessary to\naccomplish such purposes. In the event a book entry method of transfer\nis used, principal of, redemption premium, if any, and interest on the\nobligations shall be payable to the registered owner shown in book\nentry, his legal representatives, successors or transferees.\n