City, town and district notes may be made payable to ''bearer'', and when so issued section twenty-four may be construed by the director as being properly complied with in so far as it relates to the proper filling in of any space provided for the name of the purchaser or registered holder of the loan, and the director may certify such notes; provided that before certification there shall be filed with the director by the city, town or district treasurer, as the case may be, the name of the purchaser of such loan.
Massachusetts Legal Code