§ 159E-12 – Applicability; determination.
159E-12. Applicability; determination. (a) Unless at any time prior to or at original issuance of a registered public obligation the official or official body of the issuer determines otherwise, this Chapter shall be applicable to such registered public obligation notwithstanding any provision of law to the contrary. When this Chapter is applicable, no contrary provision […]
§ 159E-13 – Construction.
159E-13. Construction. This Chapter shall be construed in conjunction with the Uniform Commercial Code and the principles of contract law relative to the registration and transfer of obligations. (1983, c. 322, s. 1.)
§ 159E-14 – Amendment or repeal; effect.
159E-14. Amendment or repeal; effect. The State hereby covenants with the owners of any registered public obligations that it will not amend or repeal this Chapter if the effect may be to impair the exemption from income taxation of interest on registered public obligations. (1983, c. 322, s. 1.)
§ 159E-15 – Severability.
159E-15. Severability. If any provision or the application of any provision of this Chapter shall be invalid, such shall not affect the validity of other provisions or other applications, it hereby being declared that the provisions or the applications of this Chapter are separable and this Chapter would have been enacted with the invalid provision […]
§ 159E-10 – Security for deposits.
159E-10. Security for deposits. Obligations issued by public entities under the laws of one or more states, territories, or possessions of the United States, the Commonwealth of Puerto Rico, or the District of Columbia, which are in registered form, whether or not represented by an instrument, and which, except for their form, satisfy the requirements […]
§ 159E-11 – Public records; locations.
159E-11. Public records; locations. (a) Records, with regard to the ownership of or security interests in registered public obligations, are not subject to inspection or copying under any law of this State relating to the right of the public to inspect or copy public records, notwithstanding any law to the contrary. This provision shall not […]
§ 159E-1 – Short title.
159E-1. Short title. This Chapter may be cited as the "Registered Public Obligations Act." (1983, c. 322, s. 1.)
§ 159E-2 – Definitions.
159E-2. Definitions. As used in this Chapter, the following terms have the following meanings, unless the context otherwise requires: (1) "Authorized officer" means any individual required or permitted, alone or with others, by any provision of law or by the issuing public entity, to execute on behalf of the public entity a certificated registered public […]
§ 159E-3 – Declaration of State interest; purposes.
159E-3. Declaration of State interest; purposes. (a) The Code provides that interest with respect to certain obligations may not be exempt from federal income taxation unless they are in registered form. It is therefore a matter of State concern that public entities be authorized to provide for the issuance of obligations in such form. It […]
§ 159E-4 – Systems of registration.
159E-4. Systems of registration. (a) Each issuer, with the approval of the Commission, is authorized to establish and maintain a system of registration with respect to each obligation which it issues. The system may either be (i) a system pursuant to which only certificated registered public obligations are issued, or (ii) a system pursuant to […]