§ 511. Definitions; “security receipt”; “equipment trust certificate”
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 56 P.S. Negotiable Instruments
56 P.S. § 511
§ 511. Definitions; “security receipt”; “equipment trust certificate”
(a) The term “security receipt” means any writing in and by which the signer sets forth that the person named therein, or the bearer, is entitled to receive a specified principal amount, par value, or number, of bonds, notes, debentures, shares of stock, equipment trust certificates, voting trust certificates of shares of stock, scrip, or other security or securities of any kind or character identified or described therein, absolutely, or when, as, and if received by the signer, or upon any other contingency stated or referred to therein.
(b) The term “equipment trust certificate” means any writing in and by which the signer sets forth that the person named therein, or the bearer, is entitled to an interest, or a share of, a specified principal amount or par value in money, or the payment of any money, under an identified trust indenture pursuant to the terms of which the title to rolling stock, vehicles, or equipment for use by or on the liens or routes of carriers, or to vessels or other maritime equipment, is held by trustees for the ratable benefit of all the holders of the interests or shares. The term “equipment trust certificate” shall include the dividend warrants or the coupons attached to such writing.
Credits
1927, March 29, P.L. 73, § 1.
56 P.S. § 511, PA ST 56 P.S. § 511
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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