Registered Bond
A bond whose owner is designated on records maintained for this purpose by a registrar, often the paying agent or trustee.
The person or entity responsible for maintaining records on behalf of the Issuer for the purpose of recording the names of the owners of Registered Bonds. Typically, the Trustee is also the Registrar and Paying Agent.
Learn more about the various parties involved in a municipal securities transaction and their roles.
A bond whose owner is designated on records maintained for this purpose by a registrar, often the paying agent or trustee.
The institution, often appointed in an indenture or a paying agency agreement, responsible for making payments of interest and principal to bondholders.
A commercial bank or trust company with trust powers which acts in a fiduciary capacity for and on behalf of the bondholders by entering into an indenture with the issuer of the bonds.
The powers identified in Commissioner v. Shamberg’s Estate, 144 F.2d 998 (2d Cir. 1944) as the powers used to identify what is a political subdivision of a state or local governmental entity in the United States, specifically, the power of eminent domain, the power to tax, and the police power.