The State Comptroller, on behalf of the State, shall contract with one or more banks or trust companies having an office located in the City of New York, to act as fiscal agent of the State. The State fiscal agent shall maintain an office for the registration, conversion, reconversion and transfer of the bonds, notes and other obligations of the State, including the preparation and substitution of new bonds, notes and other obligations, for the payment of the principal thereof and interest thereon, and for related services. This office shall be open for business during regular banking hours.