Customer Name Security Law and Legal Definition

"Customer name security" is defined as “security--

(A) held for the account of a customer on the date of the filing of the petition by or on behalf of the debtor;

(B) registered in such customer's name on such date or in the process of being so registered under instructions from the debtor; and

(C) not in a form transferable by delivery on such date.” (11 USCS § 741)