The official registrar shall (a) act as transfer agent or registrar for the exchange
or transfer of registered public obligations or maintain the records so that public
obligations in book-entry form may be effected, or (b) contract with or otherwise
designate a bank, trust company or other person to act as transfer agent or registrar
for the registered public obligations or maintain the records so that public obligations
in book-entry form may be effected. The bank, trust company or other person may include the federal government or any
of its agencies or instrumentalities and may be located or have its principal office
within or without the state. Public obligations in book-entry form shall be effected by means of entries on the
record of the official registrar or his designee which shall reflect the description
of the issue, the principal amount, the interest rate, the maturity date and the owner
of the public obligation and other information as is considered by the official registrar
or his designee to be appropriate. The official registrar or his designee may effect conversion between book-entry
public obligations and registered public obligations for owners of public obligations
who request a change. The official registrar or his designee shall issue a confirmation of the transaction
in the form of a written advice. The official registrar or his designee shall have such additional powers as are
necessary to effectuate the purposes of this article.
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