(a)  An issuer, prior to or at original issuance of registered public obligations, may provide as a part of a system of registration that the transferor or transferee of the registered public obligations pay all or a designated part of the costs of the system as a condition precedent to transfer, that costs be paid out of proceeds of the registered public obligations, or that both methods be used. The portion of the costs of the system not provided to be paid for by the transferor or transferee or out of proceeds shall be the liability of the issuer.

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Terms Used In Rhode Island General Laws 35-13-9

  • Issuer: means a public entity which issues an obligation. See Rhode Island General Laws 35-13-2
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Registered public obligations: means an obligation issued by a public entity pursuant to a system of registration. See Rhode Island General Laws 35-13-2

(b)  The issuer may as a part of a system of registration provide for reimbursement or for satisfaction of its liability by payment by others. The issuer may enter into agreements with others respecting reimbursement or payment, may establish fees and charges pursuant to these agreements or otherwise, and may provide that the amount or estimated amount of the fees and charges shall be reimbursed or paid from the same sources and by means of the same collection and enforcement procedures and with the same priority and effect as with respect to the obligations.

History of Section.
P.L. 1983, ch. 267, § 1.