Specifications include, but are not limited to: Maintain a custody account in the bank’s trust department for securities owned by the State of Maine. Provide a dedicated service person, knowledgeable of the account and the trading activity and available during the office hours of 8am – 5pm Eastern by phone and email. Hold all securities and cash segregated from the assets of others. These securities and funds shall be and remain the sole property of the State of Maine. The Custodian shall have only the bare custody thereof. The securities held by the Custodian shall, unless payable to the bearer, be registered in the name of the State of Maine. Securities delivered to the Custodian, except bearer securities and certificates of deposit, shall be in due form for transfer or already registered as provided above. Settle and deliver securities as directed by authorized OST personnel and its authorized representatives. Collect all coupons and other periodic income on securities held.
