municipal securities
Defined in 6 dictionaries — U.S. Code, Cyclopedic (1922), Ballentine's (1916), Bouvier (1914), Black's (1910), Black's (1891)
United States Code
15 U.S.C. § 78C — in this chapter (4 versions over time)
The term “municipal securities” means securities which are direct obligations of, or obligations guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in section 103(c)(2) 1 of title 26) the interest on which is excludable from gross income under section 103(a)(1) 1 of title 26 if, by reason of the application of paragraph (4) or (6) of section 103(c) 1 of title 26 (determined as if paragraphs (4)(A), (5), and (7) were not included in such section 103(c)),1 paragraph (1) of such section 103(c) 1 does not apply to such security.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
Municipal se- They are of two general classes: (1) Municipal bonds, being written and usually sealed obligations executed by the proper officers of the municipality, binding it to pay a specified sum at a particular time. Such bonds are ordinarily negotiable. (2) Municipal warrants, being instruments generally in the form of a bill of exchange drawn by a municipal officer, upon the treasurer directing him to pay a specified amount to a person named, or to bearer.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
The evidences of indebtedness issued by cities, towns, counties, townships, school districts, and other such territorial divisions of the state. There are two general classes: (1) municipal warrants, orders, or certificates; (2) municipal negotiable bonds. A. & E. Encyc. See Municipal Cobpobation.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
The evidences of indebtedness issued by cities, towns, counties, townships, school-districts, and other such territorial divisions of a state. They are of two general classes:
(1) Municipal warrants, outers, or certificates;
(2) municipal negotiable bonds. 15 Amer. & Eng. Enc. Law, 1206
Defined under Municipal in Black's Law Dictionary.
A Dictionary of Law
Henry Campbell Black · 1891
The evidences of indebtedness issued by cities, towna, counties, townships, school-districts, and other such territorial divisions of a state. They are of two general classes: (1) Municipal warrants, orders, or certificates; (2) municipal negotiable bonds. 15 Amer. & Eng. Enc. Law, 1206.