A Bond that gives the bondholder the right to sell, or put, the Bond to the Issuer or some other party, often a remarketing agent, under specific conditions. Put Bonds are ordinarily put to the Issuer or remarketing agent at 100% of the Par Value of the Bonds.
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State securities laws, which regulate the offering of securities. Although these laws vary from state to state, most contain provisions concerning (a) prohibitions against fraud; (b) regulation of brokers and dealers doing business in the state; and (c) registration of Securities.
