Form of Bonds and Notes

V.S.A. tit. 32, ch. 13, subch. 5

in effect

32 V.S.A. § 981 Form of bonds or notes

981. Form of bonds or notes Notwithstanding any general or special law to the contrary, the State may issue bonds or notes in coupon form payable to the bearer, in registered form without coupons, or in book entry form. Bonds or notes other than those in book entry form shall be signed by the manual or facsimile signature of the State Treasurer or the State Treasurer’s deputy and countersigned by the manual or facsimile signature of the Secretary of State or the Secretary of State’s deputy, and the interest coupons on the bonds or notes, if any, shall bear the facsimile signature of the State Treasurer. The Seal of the State shall be affixed or imprinted on the bonds or notes. The date of issuance; place of payment; rate of interest, which may be fixed or variable, or manner of determining the rate of interest; original stated value; investment returns or manner of determining the same; maturity value; time of maturity; provisions with respect to redemption prior to maturity, at par or at a premium; sinking fund and reserve requirements; and other particulars as to the form of the bonds within the limitations mentioned under this section, shall be determined by the State Treasurer with the approval of the Governor as the State Treasurer may deem for the best interests of the State. Added 1983, No. 15, eff. March 29, 1983; amended 1989, No. 276 (Adj. Sess.), § 26, eff. June 20, 1990; 1993, No. 19, § 4, eff. May 11, 1993; 2021, No. 105 (Adj. Sess.), § 472, eff. July 1, 2022.

32 V.S.A. § 982 Transfer agent

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.

32 V.S.A. § 983 Confidential registry

983. Confidential registry The books of registry held by the State Treasurer or other designated registrar shall be confidential and the information contained in the books of registry shall not be available to the public. Added 1983, No. 15, eff. March 29, 1983; amended 2021, No. 105 (Adj. Sess.), § 473, eff. July 1, 2022.

32 V.S.A. § 984 Additional powers

984. Additional powers The State Treasurer or his or her designee shall have such additional powers as are necessary to effectuate the purposes of this subchapter. Added 1983, No. 15, eff. March 29, 1983.

32 V.S.A. § 985 Application

985. Application This subchapter supersedes any existing general or special law of the State with respect to the matters contained under this subchapter as they apply to bonds or notes issued by the State, but shall not diminish or restrict any powers previously granted by law. Added 1983, No. 15, eff. March 29, 1983; amended 2021, No. 105 (Adj. Sess.), § 474, eff. July 1, 2022.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/32/013Fetched: 10/21/2026