Series 50: Delivery Of The Bonds

Taken from our Series 50 Online Guide

Delivery of the Bonds

Most municipal bonds today are issued in book-entry form at a registered clearing house, without the benefit of a physical certificate. Bonds are registered and cleared through a registered clearinghouse, such as the DTC. Instead of a bond certificate, investors receive a written confirmation of the transaction from their broker. Registration of a new issue may take up to a month, as the clearing agency mus

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