Bonds issued with attachable coupons that must be presented to a paying agent or the Oregon State Treasury for semiannual interest payments. Federal law has prohibited the issuance of bearer bonds since 1982.
Bearer bonds contain detachable coupons, with each one representing a scheduled interest payment; anyone who possesses, or bears, the bonds is the owner. Interest is claimed by clipping off the coupons and presenting them to an agent of the issuing corporation or government agency for payment. Registered bonds have replaced bearer bonds.