{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-588","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-588","heading":"Appointment of certain agents, etc. and depositories -","body":"Issuer as agent, etc.\n\nA. An issuer may appoint for such term as may be agreed,\n\nincluding for so long as a registered public obligation may be\n\noutstanding, corporate or other authenticating agents, transfer\n\nagents, registrars, paying or other agents and specify the terms of\n\ntheir appointment, including their rights, their compensation and\n\nduties, limits upon their liabilities and provision for their\n\npayment of liquidated damages in the event of breach of certain of\n\nthe duties imposed, which liquidated damages may be made payable to\n\nthe issuer, the owner or a financial intermediary. None of such\n\nagents need have an office or do business within this state.\n\nB. An issuer may agree with custodian banks and financial\n\nintermediaries, and nominees of any of them, in connection with the\n\nestablishment and maintenance by others of a central depository\n\nsystem for the transfer or pledge of registered public obligations.\n\nAny such custodian banks and financial intermediaries, and nominees,\n\nmay, if qualified and acting as fiduciaries, also serve as\n\nauthenticating agents, transfer agents, registrars, paying or other\n\nagents of the issuer with respect to the same issue of registered\n\npublic obligations.\n\nC. Nothing shall preclude the issuer from itself performing,\n\neither alone or jointly with other issuers, any transfer,\n\nregistration, authentication, payment or other function described in\n\nthis section.\n\nD. All paying agents on bond issues, after holding funds for\n\npayment of principal or interest for a period of five (5) years from\n\ntheir payment date and the bond or coupon has not been presented for\n\npayment, shall immediately return said funds to the issuer of the\n\nbonds to be used for any lawful purpose.","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":"a6d88c3c875a53f064e09fed4ab6dffbe3716dac61a5b5535dd78cfdffff7d40","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-587","next":"us-ok/okla.-stat.-tit.-62-62-589"},"notice":"GroundRules: Original legal text. Not legal advice."}