SECTION 43. Exchange of order instruments for bearer instruments; penalty for noncompliance

A county, city, town or district, or any domestic corporation, which shall have issued any bond, note or certificate of indebtedness payable to bearer, held by the sinking fund commissioners of a county, shall, at the request of such commissioners, issue in exchange therefor a bond, note or certificate to the same effect, payable to such commissioners by name; provided, that the county desiring such exchange shall, if requested, furnish the blank form for the bond, note or certificate therefor in the same general form as that furnished by the commonwealth under section thirty-nine of chapter twenty-nine. Any county, city, town, district or corporation neglecting or refusing to comply with this section shall be subject to a penalty of not more than fifty dollars.