ex-legal

Ex-legal

A municipal bond offered without a law firm's legal opinion. A majority of bonds are issued with legal opinions.

Ex-Legal

A municipal bond that does not have the written endorsement of a bond law firm. An ex-legal bond has not been checked to ensure that it has followed all applicable laws in the course of issue (or, worse, it has been checked and a firm refused to endorse it). As a result, ex-legals are more highly exposed to legal risk than other bonds.

ex-legal

Of or relating to a municipal bond that is traded without the benefit of the legal opinion of a bond counsel. The trading of ex-legal municipal bonds is permitted as long as the buyers are informed about the lack of legal opinion.
References in periodicals archive ?
MPs were also told David Cameron's ex-legal adviser, Sir Edward Garnier tried to stop Leon Brittan being named in a hearing.
As he comes back to the industry, ex-Legal & General (L&G) head of high alpha fixed income Dickie Hodges will be joining Nomura Asset Management.
August 16, 2013 (JUBA) -- Telar Ring Deng, the ex-legal advisor to South Sudan president Salva Kiir has explained about his involvement in a land matter its owner and the Central Bank, saying he only wrote to remind the latter of a Supreme Court order for compensation.
200 ex-legal apprentices sue gov't seeking damages for stipend halt
J Ex-legal high is now banned You might observe changes in sleeping patterns, mood, or they might look tired or stay away from home for extended periods.
He told MPs he "disputed vigorously" claims from former editor Colin Myler and ex-legal manager Tom Crone that they informed him of the significance of an email indicating phone-hacking was widespread.
The now defunct British tabloid's former editor Colin Myler and ex-legal manager Tom Crone claimed that they made Murdoch aware of widespread hacking three years ago.
Mr Murdoch said he disputed vigorously claims from former editor Colin Myler and ex-legal manager Tom Crone that they informed him at a meeting in June 2008 of the significance of an email revealing the practice was more widespread.
Mr Murdoch "disputed vigorously" claims from former editor Colin Myler and ex-legal manager Tom Crone that they informed him at a meeting in June 2008 of the significance of an email revealing the practice was more widespread.
The Sunday tabloid's former editor Colin Myler and ex-legal chief Tom Crone told MPs investigating the scandal they were "certain" they informed the News International chairman about the email at a meeting in 2008.
But the Sunday tabloid's former editor, Colin Myler, and ex-legal manager Tom Crone have insisted that they told him about the message.
But former editor Colin Myler and ex-legal manager Tom Crone said they had told Mr Murdoch of the email.