10-624. Uncertificated bonds; statement of rights; facsimile signatures.
10-624
10-624. Uncertificated bonds; statement of rights; facsimile signatures.
The issuer shall attach to its uncertificated bonds, written statements
which provide a record of certain rights as of the time of issuance of the
statements. Such statements shall be provided to each person acquiring
rights by registration in uncertificated bonds and such statements shall
be signed by a person whose signature is required or permitted to be placed
on a certificated bond of the same class or series. The statement shall
confer no rights on the recipient and it shall be neither a negotiable instrument
nor a security.
The written statements attached to uncertificated bonds may be signed with
a facsimile of the signature of the person required to sign such statements.
If such statements are signed with a facsimile signature, the transfer agent
shall sign such statements manually.
History: L. 1983, ch. 49, § 5; May 12.