Dividend entry liquidating
In the case of bonds, the indenture trustee normally performs this function.
Secondary Market Disclosures for Municipal Issues b. In addition to checking original issues, the registrar checks each transfer made by the transfer agent: to ensure the genuineness of the certificates presented for transfer; to make certain that the old certificates have been canceled; and to ensure that the number of shares represented by the new certificates does not exceed the number of shares represented by the old (canceled) certificates.
Indentures tend o be of uniform construction and design, but may be tailored to include unique provisions.
Bonds may also be distinguished by whether they are secured or unsecured.
The issuer could be a corporation, state, municipality, quasi-public authority, school, church, or any incorporated organization, which chooses to finance its needs through the issuance of bonds.
Today, however, most bond issues are registered for both principal and interest.
Eventually, the bond itself matured or was called prior to maturity, and was sent to the trustee for payment.