1. (a) A State unit authorized to issue bonds may issue bonds:

   1. (1) in coupon form; or
   2. (2) notwithstanding any other provision of law, in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation proposed or adopted under those sections.

2. (b) Whenever a State unit provides for the sale of bonds in registered form, the State unit may:

   1. (1) establish procedures for the registration and transfer of the bonds;
   2. (2) appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;

   3. (3) in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:

      1. (i) custodian banks and their nominees; or
      2. (ii) financial intermediaries and their nominees; and
   4. (4) exercise any other power that relates to issuance of bonds in registered form.

Added by Acts 1985, c. 11, § 2, eff. Oct. 1, 1985. Amended by Acts 1985, c. 717, § 1, eff. Oct. 1, 1985; Acts 1988, c. 110, § 1, eff. Jan. 1, 1989.