North Carolina Statutes

Chapter 159E Registered Public Obligations Act

  • § 159E-1   Short title
    This Chapter may be cited as the "Registered Public Obligations Act." (1983, c. 322, s. 1.)
  • § 159E-2   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...
  • § 159E-3   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....
  • § 159E-4   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...
  • § 159E-5   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...
  • § 159E-6   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...
  • § 159E-7   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...
  • § 159E-8   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...
  • § 159E-9   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...
  • § 159E-10   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,...
  • § 159E-11   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...
  • § 159E-12   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...
  • § 159E-13   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...
  • § 159E-14   Amendment or repeal; effect
    The State hereby covenants with the owners of any registered public obligations that it will not amend or repeal this Chapter if the effect may...
  • § 159E-15   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...