Oklahoma § 62-582 - Definitions

§ 62-582. Definitions

As used in this act, the following terms have the following

meanings, unless the context otherwise requires:

1. "Authorized officer" means any individual required or

permitted, alone or with others, by any provision of law or by the

issuing public entity, to execute on behalf of the public entity a

Oklahoma Statutes - Title 62. Public Finance

certificated registered public obligation or a writing relating to

an uncertificated registered public obligation;

2. "Certificated registered public obligation" means a

registered public obligation which is represented by an instrument;

3. "Code" means the Internal Revenue Code of 1954, as amended;

4. "Facsimile seal" means the reproduction by engraving,

imprinting, stamping or other means of the seal of the issuer,

official or official body;

5. "Facsimile signature" means the reproduction by engraving,

imprinting, stamping or other means of a manual signature;

6. "Financial intermediary" means a bank, broker, clearing

corporation or other person or the nominee of any of them, which in

the ordinary course of its business maintains registered public

obligation accounts for its customers, when so acting;

7. "Issuer" means a public entity which issues an obligation;

8. "Obligation" means an agreement of a public entity to pay

principal and any interest thereon, whether in the form of a

contract to repay borrowed money, a lease, an installment purchase

agreement, or otherwise, and includes a share, participation or

other interest in any such agreement;

9. "Official actions" means the actions by statute, order,

ordinance, resolution, contract or other authorized means by which

the issuer provides for issuance of a registered public obligation;

10. "Official or official body" means the officer or board that

is empowered under the laws of one or more states including this

state to provide for original issuance of an obligation of the

issuer, by defining the obligation and its terms, conditions and

other incidents, the successor or successors of any such official or

official body, and such other person or group of persons as shall be

assigned duties of such official or official body with respect to a

registered public obligation under applicable law from time to time;

11. "Public entity" means an entity, department or agency which

is empowered under the laws of one or more states, territories,

possessions of the United States, or the District of Columbia,

including this state, to issue obligations any interest with respect

to which may, under any provision of law, be provided an exemption

from the income tax referred to in the Code. The term "public

entity" may thus include, without limitation, this state, an entity

deriving powers from and acting pursuant to the State Constitution

or a special legislative act, a political subdivision, a municipal

corporation, a state university or college, a school or other

special district, a joint agreement entity, a public authority, a

public trust, a nonprofit corporation and other organizations;

12. "Registered public obligation" means an obligation issued

by a public entity pursuant to a system of registration;

13. "System of registration" and its variants means a plan that

provides:

Oklahoma Statutes - Title 62. Public Finance

a.

with respect to a certificated registered public

obligation that:

(1) the certificated registered public obligation

specify a person entitled to the registered

public obligation and the rights it represents,

and

(2) transfer of the certificated registered public

obligation and the rights it represents may be

registered upon books maintained for that purpose

by or on behalf of the issuer, and

b.

with respect to an uncertificated registered public

obligation that:

(1) books maintained by or on behalf of the issuer

for the purpose of registration of the transfer

of a registered public obligation specify a

person entitled to the registered public

obligation and the rights evidenced thereby, and

(2) transfer of the uncertificated registered public

obligation and the rights evidenced thereby be

registered upon such books; and

14. "Uncertificated registered public obligation" means a

registered public obligation which is not represented by an

instrument.

Added by Laws 1983, c. 170, § 2, eff. July 1, 1983.