17-5-1115. Uncertificated public obligation -- signed statements.
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/mt/title-17/chapter-5/part-11/17-5-1115·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
17-5-1115 . Uncertificated public obligation -- signed statements. The issuer shall provide, with respect to its uncertificated public obligations, for the sending of written statements that provide a record of certain rights as of the time of issuance of the statements. The statements must be sent to each person acquiring rights by registration in uncertificated public obligations, and the statements so sent must be signed by an authorized officer or by a person whose signature is required or permitted to be placed on a certificated public obligation of the same class or series.
Statements, as such, confer no right on the recipient. Statements are neither a negotiable instrument nor a security.