Okla. Stat. tit. 62, § 62-584

A. Each issuer is authorized to establish and maintain a system

of registration with respect to each obligation which it issues.

The system may either be:

1. A system pursuant to which only certificated registered

public obligations are issued; or

2. A system pursuant to which only uncertificated registered

public obligations are issued; or

3. A system pursuant to which both certificated and

uncertificated registered public obligations are issued.

The issuer may amend, discontinue and reinstitute any system, from

time to time,subject to covenants.

B. The system shall be established, amended, discontinued or

reinstituted for the issuer by, and shall be maintained for the

issuer as provided by, the official or official body.

C. The system shall be described in the registered public

obligation or in the official actions which provide for original

issuance of the registered public obligation, and in subsequent

official actions providing for amendments and other matters from

time to time. Such description may be by reference to a program of

the issuer which is established by the official or official body.

D. The system shall define the method or methods by which

transfer of the registered public obligation shall be effective with

respect to the issuer, and by which payment of principal and any

interest shall be made. The system may permit the issuance of

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registered public obligations in any denomination to represent

several registered public obligations of smaller denominations. The

system may also provide for the form of any certificated registered

public obligation or of any writing relating to an uncertificated

registered public obligation, for identifying numbers or other

designations, for a sufficient supply of certificates for subsequent

transfers, for record and payment dates, for varying denominations,

for communications to holders or owners of obligations, and for

accounting, canceled certificate instruction registration and

release of security interests and other incidental matters. Unless

the issuer otherwise provides, the record date for interest payable

on the first or fifteenth day of a month shall be the fifteenth day

or the last business day of the preceding month, respectively, and

for interest payable on other than the first or fifteenth day of a

month, shall be the fifteenth calendar day before the interest

payment date.

E. Under a system pursuant to which both certificated and

uncertificated registered public obligations are issued, both types

of registered public obligations may be regularly issued, or one

type may be regularly issued and the other type issued only under

described circumstances or to particular described categories of

owners and provision may be made for registration and release of

security interests in registered public obligations.

F. The system may include covenants of the issuer as to

amendments, discontinuances, and reinstitutions of the system and

the effect of such on the exemption of interest from the income tax

provided for by the Code.

G. Whenever an issuer shall issue an uncertificated registered

public obligation, the system of registration may provide that a

true copy of the official actions of the issuer relating to such

uncertificated registered public obligation be maintained by the

issuer or by the person, if any, maintaining such system on behalf

of the issuer, so long as the uncertificated registered public

obligation remains outstanding and unpaid. A copy of such official

actions, verified to be such by an authorized officer, shall be

admissible before any court of record, administrative body or

arbitration panel without further authentication.

H. Nothing in this act shall preclude a conversion from one of

the forms of registered public obligations provided for by this act

to a form of obligation not provided for by this act if interest on
py of such official

actions, verified to be such by an authorized officer, shall be

admissible before any court of record, administrative body or

arbitration panel without further authentication.

H. Nothing in this act shall preclude a conversion from one of

the forms of registered public obligations provided for by this act

to a form of obligation not provided for by this act if interest on

the obligation so converted will continue to be exempt from the

income tax provided for by the Code.

I. The rights provided by other laws with respect to

obligations in forms not provided for by this act shall, to the

extent not inconsistent with this act, apply with respect to

registered public obligations issued in forms authorized by this

act.

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