South Carolina Code 59-121-400. Execution of bonds and coupons; change of issuing officers or seal; issuance as fully registered, noncertificated, book-entry securities
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Terms Used In South Carolina Code 59-121-400
- bonds: means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this article. See South Carolina Code 59-121-320
- Citadel: means The Citadel, the Military College of South Carolina. See South Carolina Code 59-121-320
- Visitors: means the Board of Visitors of The Citadel or any successor body. See South Carolina Code 59-121-320
The bonds and the coupons, if any, attached to such bonds, must be executed manually or by facsimile in the name of The Citadel in such manner and by such persons as the visitors shall from time to time determine, and the seal of The Citadel must be affixed to, or impressed, or reproduced on each bond. Any coupons attached to such bonds must be authenticated by the facsimile signature of one or more of the persons signing the bonds. Such bonds may, in the discretion of the visitors, be registerable as to principal and interest on books kept therefor by or on behalf of The Citadel, including by a corporate registrar. The delivery of the bonds so executed are valid notwithstanding changes in officers or in the seal occurring after such execution. Notwithstanding the foregoing, the bonds may, in the discretion of the visitors, be issued as fully registered, noncertificated, book-entry securities.