{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-584","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-584","heading":"System of registration","body":"A. Each issuer is authorized to establish and maintain a system\n\nof registration with respect to each obligation which it issues.\n\nThe system may either be:\n\n1. A system pursuant to which only certificated registered\n\npublic obligations are issued; or\n\n2. A system pursuant to which only uncertificated registered\n\npublic obligations are issued; or\n\n3. A system pursuant to which both certificated and\n\nuncertificated registered public obligations are issued.\n\nThe issuer may amend, discontinue and reinstitute any system, from\n\ntime to time,subject to covenants.\n\nB. The system shall be established, amended, discontinued or\n\nreinstituted for the issuer by, and shall be maintained for the\n\nissuer as provided by, the official or official body.\n\nC. The system shall be described in the registered public\n\nobligation or in the official actions which provide for original\n\nissuance of the registered public obligation, and in subsequent\n\nofficial actions providing for amendments and other matters from\n\ntime to time. Such description may be by reference to a program of\n\nthe issuer which is established by the official or official body.\n\nD. The system shall define the method or methods by which\n\ntransfer of the registered public obligation shall be effective with\n\nrespect to the issuer, and by which payment of principal and any\n\ninterest shall be made. The system may permit the issuance of\n\nregistered public obligations in any denomination to represent\n\nseveral registered public obligations of smaller denominations. The\n\nsystem may also provide for the form of any certificated registered\n\npublic obligation or of any writing relating to an uncertificated\n\nregistered public obligation, for identifying numbers or other\n\ndesignations, for a sufficient supply of certificates for subsequent\n\ntransfers, for record and payment dates, for varying denominations,\n\nfor communications to holders or owners of obligations, and for\n\naccounting, canceled certificate instruction registration and\n\nrelease of security interests and other incidental matters. Unless\n\nthe issuer otherwise provides, the record date for interest payable\n\non the first or fifteenth day of a month shall be the fifteenth day\n\nor the last business day of the preceding month, respectively, and\n\nfor interest payable on other than the first or fifteenth day of a\n\nmonth, shall be the fifteenth calendar day before the interest\n\npayment date.\n\nE. Under a system pursuant to which both certificated and\n\nuncertificated registered public obligations are issued, both types\n\nof registered public obligations may be regularly issued, or one\n\ntype may be regularly issued and the other type issued only under\n\ndescribed circumstances or to particular described categories of\n\nowners and provision may be made for registration and release of\n\nsecurity interests in registered public obligations.\n\nF. The system may include covenants of the issuer as to\n\namendments, discontinuances, and reinstitutions of the system and\n\nthe effect of such on the exemption of interest from the income tax\n\nprovided for by the Code.\n\nG. Whenever an issuer shall issue an uncertificated registered\n\npublic obligation, the system of registration may provide that a\n\ntrue copy of the official actions of the issuer relating to such\n\nuncertificated registered public obligation be maintained by the\n\nissuer or by the person, if any, maintaining such system on behalf\n\nof the issuer, so long as the uncertificated registered public\n\nobligation remains outstanding and unpaid. A copy of such official\n\nactions, verified to be such by an authorized officer, shall be\n\nadmissible before any court of record, administrative body or\n\narbitration panel without further authentication.\n\nH. Nothing in this act shall preclude a conversion from one of\n\nthe forms of registered public obligations provided for by this act\n\nto a form of obligation not provided for by this act if interest on\npy of such official\n\nactions, verified to be such by an authorized officer, shall be\n\nadmissible before any court of record, administrative body or\n\narbitration panel without further authentication.\n\nH. Nothing in this act shall preclude a conversion from one of\n\nthe forms of registered public obligations provided for by this act\n\nto a form of obligation not provided for by this act if interest on\n\nthe obligation so converted will continue to be exempt from the\n\nincome tax provided for by the Code.\n\nI. The rights provided by other laws with respect to\n\nobligations in forms not provided for by this act shall, to the\n\nextent not inconsistent with this act, apply with respect to\n\nregistered public obligations issued in forms authorized by this\n\nact.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"7b0925b3c28ef8838398b81b91b9ad45ff5c0fa67e5cd6f0645e389d24a4e09a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-583","next":"us-ok/okla.-stat.-tit.-62-62-585"},"notice":"GroundRules: Original legal text. Not legal advice."}