<?xml version='1.0' encoding='utf-8'?>
<section article="gsf" article_name="State Finance and Procurement" number="8-205" title_number="8" title_name="Debt" subtitle_number="2" subtitle_name="Debts of State Units">
  <level label="a">
    <text>A State unit authorized to issue bonds may issue bonds:</text>
    <level label="1">
      <text>in coupon form; or</text>
    </level>
    <level label="2">
      <text>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.</text>
    </level>
  </level>
  <level label="b">
    <text>Whenever a State unit provides for the sale of bonds in registered form, the State unit may:</text>
    <level label="1">
      <text>establish procedures for the registration and transfer of the bonds;</text>
    </level>
    <level label="2">
      <text>appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;</text>
    </level>
    <level label="3">
      <text>in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:</text>
      <level label="i">
        <text>custodian banks and their nominees; or</text>
      </level>
      <level label="ii">
        <text>financial intermediaries and their nominees; and</text>
      </level>
    </level>
    <level label="4">
      <text>exercise any other power that relates to issuance of bonds in registered form.</text>
    </level>
  </level>
</section>
