23 Miss. Code. R. 103-4.15 - Corporate Bonds
A. General.
1. Corporate bonds are the obligation of a
private corporation. Corporations sell bonds to raise capital.
2. There are two type of corporate bonds:
a) Debentures are backed by the issuer's full
faith and credit; and
b)
Mortgage-Backed bonds are backed by a lien on the company's assets.
3. Corporate bonds are issued in
two forms:
a) Registered bonds pay interest to
their registered owner; and
b)
Bearer or coupon bonds pay interest to whomever holds the bond.
B. Treatment.
1. Ownership is determined by the receipt of
purchase.
2. The bond value is
obtained from the issuer, i.e., broker, securities dealer, etc., and is a
countable resource.
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