§ 982. Transfer agent

The State Treasurer shall act as transfer agent or registrar for the exchange or transfer of registered bonds or notes 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 or notes 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 or notes in book entry form shall be effected by means of entries on the records of the State Treasurer or his or her designee which shall reflect the description of the issue, the principal amount, maturity value, the interest rate, investment returns, the maturity date, the owner of the bonds or notes, and such other information as is deemed appropriate. The State Treasurer or other designated person may effect conversions between book entry bonds or notes and registered bonds or notes for owners of bonds or notes who request such a change. The State Treasurer or other designated transfer agent or registrar shall issue a confirmation of the transaction in the form of a written advice. (Added 1983, No. 15, eff. March 29, 1983; amended 1989, No. 276 (Adj. Sess.), § 27, eff. June 20, 1990.)