Vermont Statutes Title 24 Sec. 1883
Terms Used In Vermont Statutes Title 24 Sec. 1883
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Municipal corporation: shall include a city, town, village, town school district, graded school district, or other incorporated, union, or unified school district or any entity providing educational services which is eligible to receive State aid under 16 Vt. See
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- Service of process: The service of writs or summonses to the appropriate party.
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 1883. Transfer agent
(a)(1) The treasurer of the municipal corporation shall act as transfer agent or registrar for the exchange or transfer of registered bonds, notes, or certificates or maintain the records so that bonds or notes in book entry form may be effected or contract with or otherwise designate a bank, trust company, or other person to act as transfer agent or registrar for the bonds, notes, or certificates, or maintain the records so that bonds or notes in book entry form may be effected.
(2) Such bank, trust company, or other person, which may include the federal government or any of its agencies or instrumentalities, or any officer, agency, or instrumentality of the State, may be located or have its principal office inside or outside the State; provided, however, that any such transfer agent or registrar (other than the federal government or any of its agencies or instrumentalities) not domiciled in the State or having its principal business in the State, shall qualify and be authorized to do business in the State, or shall otherwise render itself amenable to personal service of process in the State and shall submit itself to personal jurisdiction in the courts of the State.
(b) Bonds, notes, or certificates in book entry form shall be effected by means of entries on the records of the treasurer of the municipal corporation or his or her designee which shall reflect the description of the issue, the principal amount, the interest rate, the maturity date, and the owner of the bonds, notes, or certificates and such other information as is deemed appropriate.
(c) The treasurer of the municipal corporation or other designated person may effect conversion between book entry bonds, notes, or certificates and registered bonds, notes, or certificates for owners of bonds, notes, or certificates who request such a change. The treasurer of the municipal corporation or other designated transfer agent or registrar shall issue a confirmation of the transaction in the form of a written advice. (Added 1983, No. 24, § 1, eff. April 6, 1983.)