52-1801. Making bonds nonnegotiable.

52-1801

Chapter 52.--NEGOTIABLE INSTRUMENTS Article 18.--HOW NEGOTIABLE BONDS ARE MADE NONNEGOTIABLE

      52-1801.   Making bonds nonnegotiable.The owner or holder of any corporate or municipal bond or obligation,except those which are designated to circulateas money, payable to bearer, issued in and payable in this state, but notregistered in pursuance of any state law, may make such bond or obligation,or any interest coupon accompanying the same, nonnegotiable, by subscribingthe owner's or holder's name to a statement endorsedthereon, that such bond, obligation orcoupon is such person's property; and thereon the principalsum therein mentionedis payable only to such owner or holder, or the legalrepresentatives orassigns of such person, unless such bond, obligation or couponis transferred byendorsement in blank, or payable to bearer, or to order, with the additionof the assignor's place of residence.

      History:   L. 1905, ch. 310, § 197; R.S. 1923, 52-1801; L. 1983,ch. 49, § 84; May 12.