43.33A.130 - Securities -- State treasurer may cause same to be registered in the name of the nominee. - Washington Statutes

Securities — State treasurer may cause same to be registered in the name of the nominee.

The state treasurer may cause any securities in which the state investment board deals to be registered in the name of a nominee without mention of any fiduciary relationship, except that adequate records shall be maintained to identify the actual owner of the security so registered. The securities so registered shall be held in the physical custody of the state treasurer, the federal reserve system, the designee of the state treasurer, or, at the election of the designee and upon approval of the state treasurer, the Depository Trust Company of New York City or its designees.

     With respect to the securities, the nominee shall act only upon the order of the state investment board. All rights to the dividends, interest, and sale proceeds from the securities and all voting rights of the securities are vested in the actual owners of the securities, and not in the nominee.

[1999 c 228 § 1; 1981 c 3 § 13.]

Notes: Effective dates -- Severability -- 1981 c 3: See notes following RCW 43.33A.010.