Kentucky Statutes 66.171 – Register of fully-registered bonds — Payment of debt charges — Transfers or exchanges
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(1) An issuer shall keep or cause to be kept a register for the purpose of effecting the exchange, transfer, and payment of fully-registered bonds, which shall show the date, series, denomination, and owner of the fully-registered bonds and, if applicable, the number and series of the coupon bonds for which they were exchanged.
(2) An issuer shall pay or cause to be paid the debt charges on fully-registered bonds only to or on the order of the person appearing by the register to be the owner of the bonds, unless otherwise provided in an applicable credit enhancement facility.
(3) Subject to any applicable provisions of the proceedings, registered bonds may be transferred or exchanged on the register by the registered owner in person or by a person authorized by the registered owner to do so by a power of attorney.
Effective: July 15, 1996
History: Created 1996 Ky. Acts ch. 280, sec. 17, effective July 15, 1996.
(2) An issuer shall pay or cause to be paid the debt charges on fully-registered bonds only to or on the order of the person appearing by the register to be the owner of the bonds, unless otherwise provided in an applicable credit enhancement facility.
Terms Used In Kentucky Statutes 66.171
- Bonds: means bonds, notes, commercial paper, and other instruments in writing, authorized by or issued pursuant to or in accordance with this chapter, to evidence an obligation to repay or guarantee the repayment of money borrowed, or to pay interest by, or to pay at any future time other money obligations. See Kentucky Statutes 66.011
- Debt charges: means the principal, including any mandatory sinking fund deposits, interest, and any redemption premium, payable on bonds as the payments come due and are payable and any charges related to credit enhancement facilities. See Kentucky Statutes 66.011
- Issuer: means a county, city, urban-county, charter county, or other taxing district, and for purposes of making any determinations required under this chapter, may include an authorized representative of the issuer. See Kentucky Statutes 66.011
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Register: means the books kept and maintained for registration, exchange, and transfer of registered bonds. See Kentucky Statutes 66.011
(3) Subject to any applicable provisions of the proceedings, registered bonds may be transferred or exchanged on the register by the registered owner in person or by a person authorized by the registered owner to do so by a power of attorney.
Effective: July 15, 1996
History: Created 1996 Ky. Acts ch. 280, sec. 17, effective July 15, 1996.