UNLIMITED COMPANY Definition

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UNLIMITED COMPANY is where there is no limit to the member's liabilities.

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CONVERTIBLE PREFERRED STOCK is preferred stock which can be converted into common stock at the option of the holder of the preferred stock.

BOOK ENTRY TRANSACTION, in securities, is a transaction that does not entail physical transfer of paper securities. An entry is made on the books of a safekeeping depository showing the beneficial owner of the securities. This has become a standard transaction method for all U.S. Treasury, many U.S. Government agency securities and many tax­able and tax-exempt instruments.

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