Section 13 – Construction with other law.
15-7-13. Construction with other law. This act shall be construed in conjunction with the Uniform Commercial Code and the principles of contract law relative to the registration and transfer of obligations. Enacted by Chapter 62, 1983 General Session
Section 14 – Covenant against repeal of chapter.
15-7-14. Covenant against repeal of chapter. The state hereby covenants with the owners of any registered public obligations that it will not amend or repeal this act if the effect may be to impair the exemption from income taxation of interest on registered public obligations. Enacted by Chapter 62, 1983 General Session
Section 11 – Registration records — Public inspection — Location.
15-7-11. Registration records — Public inspection — Location. (1) 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. (2) Registration records of the issuer […]
Section 12 – Obligations subject to chapter.
15-7-12. Obligations subject to chapter. (1) Unless the official or official body of the issuer determines otherwise before or at the time of the original issuance of a registered public obligation, this act is applicable to such registered public obligation. When this act is applicable, the provisions of this act prevail over any inconsistent provision […]
Section 3 – Purpose.
15-7-3. Purpose. (1) 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 registered form. It is a purpose of […]
Section 4 – Registration system established by issuer.
Effective 5/12/2015 15-7-4. Registration system established by issuer. (1) (a) Each issuer is authorized to establish and maintain a system of registration with respect to each obligation it issues. (b) The system described in this Subsection (1) may either be: (i) a system pursuant to which only certificated registered public obligations are issued; (ii) a […]
Section 5 – Execution of obligations.
15-7-5. Execution of obligations. (1) A certificated registered public obligation shall be executed by the issuer by the manual or facsimile signature or signatures of authorized officers. Any signature of an authorized officer may be attested by the manual or facsimile signature of another authorized officer. (2) In addition to the signatures referred to in […]
Section 6 – Signatures of officers.
15-7-6. Signatures of officers. (1) Any certificated registered public obligation is valid and binding, notwithstanding the fact that any authorized officer who signed it ceased to be an authorized officer before it is issued. (2) An authorized officer may adopt as and for the signature of such officer the signature of a predecessor in office […]
Section 7 – Seals.
15-7-7. Seals. If a seal is required or permitted in the execution of a certificated registered public obligation, an authorized officer may cause a facsimile of the seal to be placed on such obligation. Use of a facsimile of the seal has the same legal effect as the impression of the seal. Enacted by Chapter […]
Section 8 – Agents of issuer.
15-7-8. Agents of issuer. (1) An issuer may appoint for such term as may be agreed, including for so long as a registered public obligation may be outstanding, corporate or other authenticating agents, transfer agents, registrars, paying or other agents and specify the terms of their appointment, including their rights, their compensation and duties, limits […]