§ 9400 Bond Interest Coupon Cancellation

• •If the state sells or gives out special money papers (bonds), the person in charge (State Treasurer) must first remove any old, unpaid interest tickets (coupons) from them.
• •The removed tickets must be canceled so they can't be used anymore.
• •The canceled tickets must be given to the board or its secretary.

Imagine you have a old savings bond from your grandma with little tickets attached for interest payments. Some of those tickets are old and haven't been paid yet.

Before the state can sell that bond to someone else, they have to rip off those old unpaid tickets, mark them as 'void' so no one can cash them, and hand them over to the board in charge.