paid in full, as of the present or of a specified date: a paid-up membership.

1870–75 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
1.  having paid the due, full, or required fee to be a member of an organization, club, political party, etc
2.  denoting a security in which all the instalments have been paid; fully paid: a paid-up share
3.  denoting all the money that a company has received from its shareholders: the paid-up capital
4.  denoting an endowment assurance policy on which the payment of premiums has stopped and the surrender value has been used to purchase a new single-premium policy

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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