In the context of corporations, scrip is evidence of a right to obtain title to stock of a corporation, but does not constitute title to the stock itself. It is one alternative used by companies when they decide not to issue fractional shares. The company can issue scrip to replace fractional shares and permit the scrip to be exchanged for title to the company's stock once the holder aggregates enough to equal one full share. Generally, scrip does not grant its holder any voting, dividend or liquidation rights, but the board of directors can grant those rights. The board of directors can also fix other terms of the scrip, such as making the scrip void if it is not exchanged by a certain date.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • Scrip — [skrip] der; s, s <aus gleichbed. engl. scrip, gekürzt aus subscription »Unterzeichnung, Unterschrift; Beglaubigung«, dies über das (Alt)fr. aus lat. subscriptio zu subscribere »unterschreiben; genehmigen«>: 1. Interimsschein als Ersatz für …   Das große Fremdwörterbuch

  • scrip — a certificate of a right to receive something (especially a stock share), 1762, probably shortened from (sub)scrip(tion) receipt. Originally receipt for a portion of a loan subscribed, meaning certificate issued as currency first recorded 1790 …   Etymology dictionary

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