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.