10-625.Authenticating trustee, transfer agent, registrar; paying and
other agents; central depository system.
(a) Except as provided by K.S.A. 10-501, and amendments thereto, an issuer
may appoint the state treasurer or other agents authorized under the authority
by which the bonds are issued as an authenticating trustee, transfer agent,
registrar, paying or other agents for a term agreed upon and specify their
rights, compensation and duties, limit their liabilities
and provide for the payment of liquidated damages in the event of breach
of duty imposed. Such liquidated damages may be made payable to a financial
intermediary. None of such need have an office or do business within this state.
(b) An issuer may enter into agreements with the state treasurer, custodian
banks and financial intermediaries, and nominees of any of them, in connection
with the establishment and maintenance by others of a central depository
system for the transfer or pledge of bonds. Any custodian banks and financial
intermediaries, and nominees, if qualified and acting as fiduciaries, may
also serve as authenticating trustees, transfer agents, registrars, paying
or other agents of the issuer for the same issue of bonds.
10-625.Authenticating trustee, transfer agent, registrar; paying and
other agents; central depository system.
(a) Except as provided by K.S.A. 10-501, and amendments thereto, an issuer
may appoint the state treasurer or other agents authorized under the authority
by which the bonds are issued as an authenticating trustee, transfer agent,
registrar, paying or other agents for a term agreed upon and specify their
rights, compensation and duties, limit their liabilities
and provide for the payment of liquidated damages in the event of breach
of duty imposed. Such liquidated damages may be made payable to a financial
intermediary. None of such need have an office or do business within this state.
(b) An issuer may enter into agreements with the state treasurer, custodian
banks and financial intermediaries, and nominees of any of them, in connection
with the establishment and maintenance by others of a central depository
system for the transfer or pledge of bonds. Any custodian banks and financial
intermediaries, and nominees, if qualified and acting as fiduciaries, may
also serve as authenticating trustees, transfer agents, registrars, paying
or other agents of the issuer for the same issue of bonds.
10-625.Authenticating trustee, transfer agent, registrar; paying and
other agents; central depository system.
(a) Except as provided by K.S.A. 10-501, and amendments thereto, an issuer
may appoint the state treasurer or other agents authorized under the authority
by which the bonds are issued as an authenticating trustee, transfer agent,
registrar, paying or other agents for a term agreed upon and specify their
rights, compensation and duties, limit their liabilities
and provide for the payment of liquidated damages in the event of breach
of duty imposed. Such liquidated damages may be made payable to a financial
intermediary. None of such need have an office or do business within this state.
(b) An issuer may enter into agreements with the state treasurer, custodian
banks and financial intermediaries, and nominees of any of them, in connection
with the establishment and maintenance by others of a central depository
system for the transfer or pledge of bonds. Any custodian banks and financial
intermediaries, and nominees, if qualified and acting as fiduciaries, may
also serve as authenticating trustees, transfer agents, registrars, paying
or other agents of the issuer for the same issue of bonds.