Louisiana Revised Statutes 39:1432 – Legislative intent
Terms Used In Louisiana Revised Statutes 39:1432
- Fully registered form: means securities which are registered as to the ownership of both the principal, interest, and premium, if any, thereon in any one or more of the following forms:
(a) by the utilization of a registrar/transfer agent or by the public entity;
(b) a book entry system, whether computerized or otherwise, or other system for recording the ownership of the principal, interest, and premium, if any, that identifies the owner of any interest in securities;
(c) a single security representing an entire issue of securities held by a financial institution or other person as trustee or agent with the ownership interest in such security being in fully registered form as provided for in this Chapter;
(d) any other form pursuant to which the ownership of and payment of principal, interest, and premium, if any, on securities are registered. See Louisiana Revised Statutes 39:1431
- Public entities: means :
(a) the state of Louisiana and state departments. See Louisiana Revised Statutes 39:1431
- Securities: means bonds, notes, certificates, or other obligations for the repayment of borrowed money, including obligations to refund any of the foregoing. See Louisiana Revised Statutes 39:1431
The intent of the Legislature in enacting this Chapter is to establish uniform provisions for the issuance, execution, registration, and transfer of securities of public entities in fully registered form, and to permit such public entities to use the most technologically advanced and efficient techniques for issuance, transfer, and registration processes.
Added by Acts 1983, 1st Ex. Sess., No. 34, §1, eff. Jan. 19, 1983.