Series 53: 6.2.3.3.6. Ex Legal Deliveries

Taken from our Series 53 Online Guide

6.2.3.3.6. Ex Legal Deliveries

Delivery of certificates without legal opinions or other documents legally required to accompany the certificates is not considered good delivery unless identified as “ex-legal” at the time of trade.

Remember that a legal opinion is a statement rendered by a lawyer verifying that the municipality has the authority to issue the bond.

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