TITLE 57

PUBLIC FUNDS IN GENERAL

CHAPTER 9

PUBLIC OBLIGATIONS REGISTRATION ACT

57-912.  Applicability — Election — Recession. (1) Unless at any time prior to or at original issuance of a registered public obligation the official or official body of the issuer determines otherwise, this chapter shall be applicable to such registered public obligation, notwithstanding any provision of law to the contrary. When this chapter is applicable, the provisions of this chapter shall prevail over any inconsistent provision of any other law.

(2)  Nothing in this chapter limits or prevents the issuance of obligations in any other form or manner authorized by law.

(3)  Unless determined otherwise pursuant to subsection (1) of this section, the provisions of this chapter shall be applicable with respect to obligations which have heretofore been approved by vote, referendum or hearing, authorizing or permitting the authorization of obligations in bearer and registered form, or in bearer form only, and such obligations need not be resubmitted for a further vote, referendum or hearing, for the purpose of authorizing or permitting the authorization of registered public obligations pursuant to this chapter.

History:

[57-912, added 1983, ch. 98, sec. 1, p. 216.]