2 CRR-NY 55.1NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 2. DEPARTMENT OF AUDIT AND CONTROL
CHAPTER II. MUNICIPAL AFFAIRS
SUBCHAPTER C. CANCELLATION AND DESTRUCTION OF OBLIGATIONS
PART 55. CANCELLATION AND DESTRUCTION OF OBLIGATIONS OF MUNICIPALITIES, SCHOOL DISTRICTS AND DISTRICT CORPORATIONS
2 CRR-NY 55.1
2 CRR-NY 55.1
55.1 Cancellation of paid obligations.
Bonds, corporate stock, notes, coupons, or other evidences of indebtedness issued pursuant to the Local Finance Law or any other law, when paid, shall be cancelled in either of the following ways:
(a) by perforating the obligation with the word “Paid”, or with the word “Cancelled”, or the substantial equivalent of either word, and with words or numbers which will indicate the date of payment. Beneath such perforations and upon the face of the obligation shall be (1) subscribed in ink the name and title of the chief fiscal officer of the issuer or his duly delegated deputy, or the name and title of an officer of the paying agent of the issuer, or (2) a perforated abbreviation of the name of the municipality, school district or district corporation, such as “C of NY”.
(b) by writing or stamping in ink the word “Paid” together with the date of payment upon the face of the obligation. Beneath such writing or stamp shall be subscribed in ink the name and title of the chief fiscal officer of the issuer, or his duly delegated deputy, or the name and title of an officer of the paying agent of the issuer. If this method is used, the signature or signatures of the officer or officers upon the obligation shall be cut or torn from the cancelled obligation.
2 CRR-NY 55.1
Current through August 31, 2022
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.