The State Treasurer shall have prepared registered bonds in blank form similar in tenor to the respective issues of coupon bonds of the State of Oklahoma, and upon the surrender of any coupon bonds of said state shall insert in such blanks the names of the registered owner, the amount of the bond, the date of maturity, the numbers and such other matter as may be necessary to complete the same to correspond in other respects to the coupon bonds surrendered; provided, that no registered bond or bonds shall exceed in face value the par or face value of the coupon bonds surrendered in exchange therefor, and provided also that said registered bonds shall have printed on the face thereof a clause substantially in the following form:

“This registered bond is issued in substitution for and in lieu of coupon bonds of the State of Oklahoma, dated ____, 19__, Series ____ Nos. ____, to ____ inclusive, which have been surrendered and canceled simultaneously with the execution and issuance of this registered bond. This registered bond may be transferred by executing the transfer or assignment on the reverse side hereof and by presentation to the State Treasurer or appointed agent as provided in the Registered Public Obligations Act of Oklahoma,¹ who shall register said bond in the name of the transferee.”