AVERAGE LIFE Definition

AVERAGE LIFE, in securities, is the weighted average retirement date of a bond issue or preferred stock; the average amount of time each dollar of principal amount will be outstanding.

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PHYSICAL STOCK-TAKE see PHYSICAL INVENTORY.

DEMUTUALIZATION refers to the de-mutualizing of an insurance company. The proceeds from such an event are normally distributed to the policyholders in the form of cash, shares, or a combination thereof in the surviving entity.

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