Bearer Security
This is a bond or a share for which there is no other proof of ownership than the physical possession of security. No official record or register of ownership is kept, the owner is the bearer of share or bond certificate. This means that these certificates are easily traded without formality. If you own bearer securities, look after them! No dividend is paid to such shares & no interest paid to such bonds. Instead the certificate will have several coupons attached. These must be physically removed from the certificate & presented to the originating Comp. for payment of any dividend or interest to be made. |
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