Sec. 42b-1. Definitions.
Sec. 42b-1. Definitions. As used in this chapter or sections 7-260, 7-273dd, 7-369,
7-373, 7-377a, 7-378 and 7-380, the following terms have the following meanings:
(a) "Authorized officer" means any individual required or permitted, alone or with
others, by any provision of law or by the issuing public entity, to execute on behalf of
the public entity a certificated registered public obligation or a writing relating to an
uncertificated registered public obligation.
(b) "Certificated registered public obligation" means a registered public obligation
which is represented by an instrument.
(c) "Code" means the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as from time to time amended.
(d) "Facsimile seal" means the reproduction by engraving, imprinting, stamping or
other means of the seal of the issuer, official or official body.
(e) "Facsimile signature" means the reproduction by engraving, imprinting, stamping or other means of a manual signature.
(f) "Financial intermediary" means a bank, broker, clearing corporation or other
person or the nominee of any of them, which in the ordinary course of its business
maintains registered public obligation accounts for its customers, when so acting.
(g) "Issuer" means a public entity which issues an obligation.
(h) "Obligation" means an agreement of a public entity to pay principal and any
interest thereon, whether in the form of a contract to repay borrowed money, a lease,
an installment purchase agreement, or otherwise, and includes a share, participation, or
other interest in any such agreement.
(i) "Official actions" means the actions, by statute, order, ordinance, resolution,
contract or other authorized means, by which the issuer provides for issuance of a registered public obligation.
(j) "Official or official body" means the officer or board that is empowered under
the laws of one or more states, including this state, or by the charter, ordinance, resolution
or other authorization of the issuer, to provide for original issuance of an obligation of
the issuer, by defining the obligation and its terms, conditions and other incidents, the
successor or successors of any such official or official body and such other person or
group of persons as shall be assigned duties of such official or official body with respect
to a registered public obligation under applicable law from time to time.
(k) "Public entity" means any entity, department or agency which is empowered
under the laws of one or more states or territories, the District of Columbia or possessions
of the United States, including this state, to issue obligations any interest with respect
to which may, under any provision of law, be provided an exemption from the income
tax referred to in the code. The term "public entity" shall include, without limitation,
this state, an entity deriving powers from and acting pursuant to the state Constitution
or a special legislative act, a town, a city, a borough, a consolidated town and city, a
consolidated town and borough, a regional school district or other special district, any
other political subdivision or municipal corporation, a joint agreement entity, a public
authority, a public trust, a nonprofit corporation and other organizations.
(l) "Registered public obligation" means an obligation issued by a public entity
pursuant to a system of registration.
(m) "System of registration" means a plan that provides: (1) With respect to a certificated registered public obligation, that: (A) The certificated registered public obligation
specify a person entitled to the registered public obligation and the rights it represents;
and (B) transfer of the certificated registered public obligation and the rights it represents
may be registered upon books maintained for that purpose by or on behalf of the issuer;
and (2) with respect to a uncertificated registered public obligation, that: (A) Books
maintained by or on behalf of the issuer for the purpose of registration of the transfer
of a registered public obligation specify a person entitled to the registered public obligation and the rights evidenced thereby; and (B) transfer of the uncertificated registered
public obligation and the rights evidenced thereby be registered upon such books.
(n) "Uncertificated registered public obligation" means a registered public obligation which is not represented by an instrument.
(P.A. 83-519, S. 1, 23; P.A. 89-211, S. 44.)
History: P.A. 89-211 clarified reference to the Internal Revenue Code of 1986.