When the liquidation bonds have been prepared they shall be lodged with the State Treasurer. Any holder of a district bond may, upon surrendering the bond to the State Treasurer, receive in substitution therefor the corresponding liquidation bond. Until so exchanged the liquidation bonds shall, until they mature, continue in the possession of the State Treasurer.
La. R.S. 48:594
Custody of liquidation bonds; exchange of district bonds for liquidation bonds
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.