(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.