Asset Backed Security (“ABS”)

A Security which has the Principal and Interest payable solely from a set of other Securities.

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Learn more about the various aspects of state laws and how they intersect with municipal securities.

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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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Due Diligence

A term referring to the inquiries and review conducted by either the underwriter and underwriter’s counsel or bond counsel or special tax counsel in connection with the issuance of bonds.