A term used to describe the physical condition of a certificate, note, bond, or coupon when the instrument is no longer considered negotiable. The standards for determining what is considered mutilated are set forth in MSRB Rule G-l 2(e) (ix). Such missing items as the signature of the authorized officer, the serial number of the instrument, the amount or the payable date would cause the instrument to be considered mutilated. The issuing authority, or its agent, must be contacted to obtain certain documents needed to make the instrument negotiable again.