SECTION 385:40-1-11. Paying agent

Latest version.

Paying agent is an independent person or party, not an employee of the school district where bond is guaranteed, and is responsible for making bond payments on behalf of the school district and is also responsible for notifying the CLO in the event the school district will be or is unable to pay maturing or matured principal or interest on a guaranteed bond.

[Source: Added at 13 Ok Reg 641, eff 11-29-95 (emergency); Added at 13 Ok Reg 1373, eff 5-13-96]

                    
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