BEARER FORM
A security that can be paid to its holder (the person possessing it) but unregistered in the issuing corporation's books.
Securities can be distributed in two forms: bearer or registered. This form means the security is exchanged off-track any documentation of ownership, so physical hold of the security is the only proof of ownership. While, registered form means the issuing firm saves the collected data of a security's owner and mails out payments to him or her. Nowadays, many securities given are in registered form.
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