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Definition of 'Non-Assessable Stock'
A class of stock in which the issuing company is not allowed to impose levies on its shareholders for additional funds for further investment. Non-assessable stocks typically have the words "fully paid and non-assessable" printed on the stock certificate.
These are the opposite of assessable stocks.
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Investopedia explains 'Non-Assessable Stock'
Assessable stocks proved unpopular, and most companies switched over to issuing non-assessable stock in the early 1900s . Although equity was no longer sold at a discount compared to its share price, investors were more confident about buying non-assessable stocks because they no longer had to worry about the possibility that the issuer would force them to make more investments after the initial transaction.
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Search results for 'Non-Assessable Stock'
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http://www.investopedia.com/exam-guide/series-63/foundation/usa-uniform-securities-act-part-6.asp
... Today, all stock certificates state that they are "full-paid and non-assessable."
The drafters of the USA may be quite familiar with securities laws, but they ...
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http://www.investopedia.com/exam-guide/series-63/securities/viatical-settlements-definition-sale.asp
... stockholders for up to $45 per share! Today, all stock certificates state:
"Full-paid and non-assessable". The drafters of the USA may be ...
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