A security which promises to pay the holder of the security on demand.

A security (stock or bond) that does not have the owner's name recorded in the books of the issuing company nor on the security itself, and which is payable to the holder, i.e. the possessor.

A security that has no identification as to owner. It is presumed to be owned, therefore, by the bearer or the person who holds it. Bearer securities are freely and easily negotiable since ownership can be quickly transferred from seller to buyer.

A security that allows its ownership to change to the person or company having possession.

Any investment which does not have the owner's name listed on it or in the records of the company that issued it. A bearer security may be sold or cashed in by the person who holds it.

A security whose owner is not registered on the books of the issuer.

stock or bond which does not have the owner's name recorded in the books of the issuing company or on the security certificate itself. The holder of the certificate is the owner. Interest, dividends or any profits from sales are payable to the holder.