Oklahoma Administrative Code
Title 385 - Department of the Commissioners of the Land Office
Chapter 40 - Guarantee Program for School District Bonds
Section 385:40-1-11 - Paying agent
Universal Citation: OK Admin Code 385:40-1-11
Current through Vol. 42, No. 1, September 16, 2024
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.
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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