Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)


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Art. 980

II. In the case of bear­er coupons

 

1 Against a claim de­riv­ing from a bear­er coupon, the ob­lig­or may not plead the de­fence that the debt prin­cip­al has been re­deemed.

2 However, when re­deem­ing the debt prin­cip­al, the ob­lig­or is en­titled to re­tain an amount cor­res­pond­ing to the in­terest pay­able on coupons fall­ing due in the fu­ture which are not handed in with the debt in­stru­ments un­til the pre­script­ive peri­ods ap­plic­able to such coupons have ex­pired, un­less the coupons not handed in have been can­celled or the amount there­of has been se­cured.

 
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