American Municipal Bond Assurance Corporation Law and Legal Definition
American Municipal Bond Assurance Corporation (AMBAC) is a subsidiary of the MGIC Investment Corporation which provides insurance policies guaranteeing the prompt payment of both principal and interest on qualified new issues of municipal bonds. Once insured by the AMBAC, bonds automatically receive an Aaa rating from the Standard & Poor's Corporation. Also, an offering with such insurance can command a higher price upon issue, depending on the extent to which the insurance policy guarantees interest and principal repayments.
Legal Definition list
- American Law Institute [ALI]
- American Land Title Association
- American Jail Association [AJA]
- American Investors Protection Act of 2005
- American Inventors Protection Act of 1999 [AIPA]
- American Municipal Bond Assurance Corporation
- American National Standards Institute
- American Petroleum Institute
- American Probation and Parole Association
- American Recovery and Reinvestment Act [ARRA]
- American Red Cross
Related Legal Terms
- Accrual Bond
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Additional Bond Test
- Adjustment Bond
- Administration for Native Americans
- African Americans
- Alaska Native Corporation
- Amended and Restated Articles of Incorporation
- American 5-cent Coin Design Continuity Act of 2003
