Legend removal

By: Quicksilver Stock Transfer  11/11/2014
Keywords: legend removals

Removing 144 Restrictions Removing a restricted legend is a complex process governed by regulations. If your shares have a restrictive legend, Quicksilver can assist in the removal of a restricted legend from a security. Restricted stock certificates customarily bear a legend identifying them as restricted. The main purpose of a restrictive legend is to prevent you from transferring ownership in violation of securities laws or contractual agreements. Certificates bearing a restrictive legend normally will not transfer until the securities represented by your certificates have either: been sold in accordance with the applicable regulatory or contractual restrictions, or are no longer subject to regulatory or contractual restrictions. The absence of a legend does not mean that your shares are unrestricted. Some companies will file a registration statement with the SEC that will enable a shareholder to sell restricted stock, provided that any unsold shares be issued back into the shareholders name with the restriction. Normally the company will inform all shareholders that are affected by the registration statement, but it may be worth the time to call the company's investor relations department directly to find out if a registration statement has been filed, or will be filed.

Keywords: legend removals

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