Series 53: Interest Payment Claims

Interest Payment Claims

Recall that the issuer’s transfer agent identifies a bond certificate as being a good delivery, cancels the old certificate, and issues a new one registered in the name of the new owner. The issuer also employs a registrar to:

• • Monitor and audit the activities of the transfer agent
• • Make sure that a cancellation accompanies each new issuance of a bond certificate so that outstanding bonds do not exceed the number issued
• • Determine the ownership of the bonds for the next interest payment period

The registrar records the newly registered bonds