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Nevada Revised Statutes Title 30. Public Borrowing and Obligations § 348.430. Appointment of agents by issuer;  agreement for establishment and maintenance of central depository system

Current as of January 01, 2021 | Updated by FindLaw Staff

1. An issuer may:

(a) Appoint for such term as may be agreed, including for so long as an issue may be outstanding, corporate or other authenticating trustees, registrars, paying agents, other transfer agents, or other agents, and specify their rights, compensation and duties;

(b) Limit their liabilities;  and

(c) Provide for their payment of liquidated damages in the event of a breach of certain of the duties imposed, which liquidated damages may be made payable to a financial intermediary.

2. None of the persons designated above in subsection 1 need have an office or do business within this state.

3. An issuer may enter into a binding agreement with 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 federal securities, public securities or other securities for the benefit of the issuer.

4. Any such custodian banks, financial intermediaries and nominees may, if qualified and acting as fiduciaries, also serve as authenticating trustees, registrars, paying agents, other types of transfer agents and other agents of the issuer with respect to the same issue of public securities.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 30. Public Borrowing and Obligations § 348.430. Appointment of agents by issuer;  agreement for establishment and maintenance of central depository system - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-30-public-borrowing-and-obligations/nv-rev-st-348-430/

Read this complete Nevada Revised Statutes Title 30. Public Borrowing and Obligations § 348.430. Appointment of agents by issuer;  agreement for establishment and maintenance of central depository system on Westlaw

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