Transfer of coupon bonds.

Wilmington City Code § 2-440

in effect

Sec. 2-440. - Transfer of coupon bonds. All coupon bonds shall be negotiable and title thereto shall pass by delivery unless registered as to principal in the manner provided in this section. The bearer of any coupon bond may have the ownership of the principal thereof registered on the bond register required to be kept pursuant to section 2-438, and such registration shall be noted on such bond. After such registration no transfer shall be valid unless made on such books by the registered owner in person or by his duly authorized attorney, and similarly noted on such bond; but such bond may be discharged from reg-istration by being in like manner transferred to the bearer, and thereupon transferability by delivery shall be restored; and such bond may again, from time to time, be registered or discharged from registration in the same manner as before. Such registration, however, shall not affect the negotiability by delivery of the coupons, for interest, but every such coupon shall continue to be transferable by delivery and shall remain payable to the bearer. (Code 1968, § 30-91)

Source: City of Wilmington, Delaware, City Code, City Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/de/wilmington/codes/code_of_ordinances?nodeId=PTIIWICO_CH2AD_ARTVIFI_DIV7GEOBBO_S2-440TRCOBOFetched: 11/6/2026