N.C. Gen. Stat. § 159E-1
Short title
Short title. This Chapter may be cited as the "Registered Public Obligations Act." (1983, c. 322, s. 1.)
North Carolina General Statutes Chapter 159E — Chapter 159E.
North Carolina · statute · N.C. Gen. Stat. ch. 159E · 14 active provisions
N.C. Gen. Stat. § 159E-2
Definitions
Definitions. As used in this Chapter, the following terms have the following meanings, unless the context otherwise requires: (1) "Authorized officer" means any individual required or permitted, alone or with others, by any provision of law or by the issuing public entity, to execute on behalf of the public entity a ce…
N.C. Gen. Stat. § 159E-3
Declaration of State interest; purposes
Declaration of State interest; purposes. (a) The Code provides that interest with respect to certain obligations may not be exempt from federal income taxation unless they are in registered form. It is therefore a matter of State concern that public entities be authorized to provide for the issuance of obligations in s…
N.C. Gen. Stat. § 159E-4
Systems of registration
Systems of registration. (a) Each issuer, with the approval of the Commission, is authorized to establish and maintain a system of registration with respect to each obligation which it issues. The system may either be (i) a system pursuant to which only certificated registered public obligations are issued, or (ii) a s…
N.C. Gen. Stat. § 159E-5
Certificated registered public obligations; execution; authentication
Certificated registered public obligations; execution; authentication. (a) A certificated registered public obligation shall be executed by the issuer by the manual or facsimile signature or signatures of authorized officers. Any signature of an authorized officer may be attested by the manual or facsimile signature of…
N.C. Gen. Stat. § 159E-6
Certificated registered public obligation; signatures
Certificated registered public obligation; signatures. (a) Any certificated registered public obligation signed by the authorized officers at the time of the signing thereof shall remain valid and binding, notwithstanding that before the issuance thereof any or all of such officers shall have ceased to fill their respe…
N.C. Gen. Stat. § 159E-7
Certificated registered public obligation; seal
Certificated registered public obligation; seal. When a seal is required or permitted in the execution of any certificated registered public obligation, an authorized officer may cause the seal to be printed, engraved, stamped, or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as th…
N.C. Gen. Stat. § 159E-8
Agents; depositories
Agents; depositories. (a) An issuer, with the approval of the Commission, may appoint for such term as may be agreed, including for so long as a registered public obligation may be outstanding, corporate or other authenticating agents, transfer agents, registrars, paying or other agents and specify the terms of their a…
N.C. Gen. Stat. § 159E-9
Costs; collection
Costs; collection. (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…
N.C. Gen. Stat. § 159E-10
Security for deposits
Security for deposits. Obligations issued by public entities under the laws of one or more states, territories, or possessions of the United States, the Commonwealth of Puerto Rico, or the District of Columbia, which are in registered form, whether or not represented by an instrument, and which, except for their form,…
N.C. Gen. Stat. § 159E-11
Public records; locations
Public records; locations. (a) Records, with regard to the ownership of or security interests in registered public obligations, are not subject to inspection or copying under any law of this State relating to the right of the public to inspect or copy public records, notwithstanding any law to the contrary. This provis…
N.C. Gen. Stat. § 159E-12
Applicability; determination
Applicability; determination. (a) Unless at any time prior to or at original issuance of a registered public obligation the official or official body of the issuer determines otherwise, this Chapter shall be applicable to such registered public obligation notwithstanding any provision of law to the contrary. When this…
N.C. Gen. Stat. § 159E-13
Construction
Construction. This Chapter shall be construed in conjunction with the Uniform Commercial Code and the principles of contract law relative to the registration and transfer of obligations. (1983, c. 322, s. 1.)
N.C. Gen. Stat. § 159E-15
Severability
Severability. If any provision or the application of any provision of this Chapter shall be invalid, such shall not affect the validity of other provisions or other applications, it hereby being declared that the provisions or the applications of this Chapter are separable and this Chapter would have been enacted with…