Nominee Name

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Nominee Name

A name that is used by the corporation as a generic registered owner on a stock or bond certificate. The use of nominee names makes the processing of security transfers easier.

Nominee Name

The brokerage or other company that is the legal owner of a security held on behalf of a client. Even though the client is the actual owner, the nominee holds title to the security because this makes the legalities of transferring the security easier if and when it is sold. The nominee must turn the security over to the client if requested. The nominee name is also called the street name. See also: Beneficial Ownership, Safekeeping.

Nominee name.

Nominee name is the name that a brokerage firm uses to register ownership of stocks or bonds it holds for investors.

Holding stock in a single generic name, sometimes known as street name, makes it easier to transfer ownership when the securities are traded.

References in periodicals archive ?
Shares held in street name safekeeping can reinvest dividends for customers in additional shares of the Fund by contacting the dividend department of your brokerage firm.