Form of Public Security

Sec. 1201.024. FORM OF PUBLIC SECURITY. (a) A public security may be: (1) issued in a specified form or forms; (2) issued with one or more interest coupons; (3) registrable as to principal and interest or only as to principal; and (4) changed in form in a specific manner. (b) A public security issued with one or more interest coupons may have: (1) a specified form of a coupon; and (2) a form of a coupon that may be changed in a specified manner. (c) An issuer may provide that a public security: (1) has a coupon and is not registrable; (2) has a coupon and is registrable only as to principal; (3) is fully registrable; or (4) initially has a coupon but may become a fully registrable security under Section 1203.041. (d) An issuer may provide that public securities of the same issue or series are: (1) of one or more types described by Subsection (c); and (2) exchangeable in whole or in part for one or more of those types. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.