Bearer Securities Law and Legal Definition

According to 31 CFR 328.2 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter II -- Fiscal Service, Department of the Treasury; Subchapter B -- Bureau of the Public Debt; Part 328 -- Restrictive Endorsements of U.S. Bearer Securities], bearer securities are “those which are payable on their face to bearer, the ownership of which is not recorded. They include Treasury bonds, Treasury notes, Treasury certificates of indebtedness, and Treasury bills.”