scrip

1. A certificate of value issued for a specific purpose and without government authority. For example, a company issues employees at a remote mining operation scrip that can be used for purchases in the company store.
2. A certificate that can be exchanged for a fractional share of stock. Scrip is distributed as the result of a spinoff, a stock dividend, or a stock split in which the stockholder would be entitled to a fractional share of stock. For example, the owner of a single share would receive scrip for one-half a share in the event the issuer declared a three-for-two stock split.