Security
Any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or evidence of any participation in any profit-sharing agreement.
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Asset Backed Security (“ABS”)
A Security which has the Principal and Interest payable solely from a set of other Securities.
Dive Deeper on State Law Matters
Learn more about the various aspects of state laws and how they intersect with municipal securities.
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Hundreds of Terms and Concepts
Private Activity Bond (PAB)
The term used in the Code to describe any bond issued as part of a bond issue that meets both of the private business tests or meets the private loan financing test.