Patent ID: 8308168

Claim:
A holder comprising: a hub defining a bore for receiving a bit, wherein said bore has a longitudinal axis, the hub further defining at least one first aperture having a camming surface disposed at at least one acute angle relative to the longitudinal axis; a sleeve mounted on the hub such that the sleeve reciprocates relative to the hub along the longitudinal axis, at least one second aperture formed in the sleeve that communicates with the at least one first aperture; a plurality of retaining teeth movable into engagement with the bit when the bit is inserted into the bore, each of said plurality of retaining teeth comprising a first leg loosely received in the at least one first aperture and a second leg loosely received in the at least one second aperture such that each of the plurality of retaining teeth slides over the camming surface, said bit being inserted into said bore along said longitudinal axis, and said plurality of retaining teeth moving at the at least one acute angle relative to said longitudinal axis when said plurality of retaining teeth move into engagement with the bit.