§ 29974 Bond Redemption Requirements

• •If you have a special kind of loan called a 'bond,' there's a day when you have to pay it back.
• •On that day, you pay back the full amount you borrowed plus any extra money (interest) that piled up.
• •This rule was added a long time ago, in 1947.

Imagine you borrowed $100 from your friend and promised to pay it back in a year, plus $5 extra for waiting.

When the year is up, you have to give your friend the $100 you borrowed plus the $5 extra. This law says the same thing but for bonds.