Glossary of Municipal Securities Terms

BOOK-ENTRY ONLY (BEO) OR BOOK-ENTRY SECURITY

security that is not available to purchasers in physical form. Municipal securities are typically held in the form of a single, global certificate. Ownership interests of, and transfers of ownership by, investors are reflected solely by appropriate books and records entries of the depository. Most municipal securities are in book-entry only form. See: GLOBAL CERTIFICATE. Compare: CERTIFICATED SECURITY.

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