§ 1883 - Transfer agent - Vermont Statutes

§ 1883. Transfer agent

The treasurer of the municipal corporation shall act as transfer agent or registrar for the exchange or transfer of registered bonds, notes or certificates or maintain the records so that bonds or notes in book entry form may be effected or contract with or otherwise designate a bank, trust company or other person to act as transfer agent or registrar for the bonds, notes or certificates, or maintain the records so that bonds or notes in book entry form may be effected. Such bank, trust company or other person, which may include the federal government or any of its agencies or instrumentalities, or any officer, agency or instrumentality of the state, may be located or have its principal office inside or outside the state; provided, however, that any such transfer agent or registrar (other than the federal government or any of its agencies or instrumentalities) not domiciled in the state or having its principal business in the state, shall qualify and be authorized to do business in the state, or shall otherwise render itself amenable to personal service of process in the state and shall submit itself to personal jurisdiction in the courts of the state. Bonds, notes or certificates in book entry form shall be effected by means of entries on the records of the treasurer of the municipal corporation 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 bonds, notes or certificates and such other information as is deemed appropriate. The treasurer of the municipal corporation or other designated person may effect conversion between book entry bonds, notes or certificates and registered bonds, notes or certificates for owners of bonds, notes or certificates who request such a change. The treasurer of the municipal corporation or other designated transfer agent or registrar shall issue a confirmation of the transaction in the form of a written advice. (Added 1983, No. 24, § 1, eff. April 6, 1983.)