Florida Rule 144 Seller's Representation Letter Non-Affiliate

• Category: Letters - Seller's Representation
• State: Multi-State
• Control #: US-1044BG
• Format: Word; Rich Text

Description

When you acquire restricted securities or hold control securities, you must find an exemption from the SEC's registration requirements to sell them in a public marketplace. Rule 144 allows public resale of restricted and control securities if a number of conditions are met. Restricted securities are securities acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer. Investors typically receive restricted securities through private placement offerings, Regulation D offerings, employee stock benefit plans, as compensation for professional services, or in exchange for providing "seed money" or start-up capital to the company An affiliate is a person, such as an executive officer, a director or large shareholder, in a relationship of control with the issuer. Control means the power to direct the management and policies of the company in question, whether through the ownership of voting securities, by contract, or otherwise. If you buy securities from a controlling person or "affiliate," you take restricted securities. Attorneys, transfer agents and brokers must be certain that all of the conditions of Rule 144 are met prior to taking action to remove a restrictive legend, but only the Seller can ensure that all the conditions are present at the actual time of sale. In order to protect themselves in issuing opinion letters and removing legends, transfer agents and most attorneys now require a letter from the Seller making certain representations and affirmations regarding their eligibility to rely on Rule 144 in the sale of their securities. This letter is commonly referred to as a Seller's Representation Letter. Florida Rule 144 Sellers Representation Letter Non-Affiliate is a legal document that pertains to the sale of restricted securities under Rule 144 of the Securities Act of 1933. This letter is specifically designed for non-affiliates of the issuing company who wish to sell their restricted securities. In Florida, Rule 144 allows non-affiliate shareholders to sell their restricted securities to the public without undergoing the registration process if certain conditions are met. One of these conditions is submitting a Seller's Representation Letter Non-Affiliate to the transfer agent or broker-dealer handling the transaction. This representation letter serves as an affirmation from the shareholder that they are not an affiliate of the issuing company and comply with the requirements under Rule 144. It provides important information regarding the shareholder's eligibility to sell their restricted securities without registration. Keywords: Florida, Rule 144, Seller's Representation Letter, Non-Affiliate, restricted securities, Securities Act of 1933, selling securities, transfer agent, broker-dealer, eligibility. It's important to note that while there may not be different types of Florida Rule 144 Sellers Representation Letter specifically for non-affiliates, variations of this letter might exist depending on the specific circumstances of the sale or the requirements of the transfer agent or broker-dealer involved.

Florida Rule 144 Sellers Representation Letter Non-Affiliate is a legal document that pertains to the sale of restricted securities under Rule 144 of the Securities Act of 1933. This letter is specifically designed for non-affiliates of the issuing company who wish to sell their restricted securities. In Florida, Rule 144 allows non-affiliate shareholders to sell their restricted securities to the public without undergoing the registration process if certain conditions are met. One of these conditions is submitting a Seller's Representation Letter Non-Affiliate to the transfer agent or broker-dealer handling the transaction. This representation letter serves as an affirmation from the shareholder that they are not an affiliate of the issuing company and comply with the requirements under Rule 144. It provides important information regarding the shareholder's eligibility to sell their restricted securities without registration. Keywords: Florida, Rule 144, Seller's Representation Letter, Non-Affiliate, restricted securities, Securities Act of 1933, selling securities, transfer agent, broker-dealer, eligibility. It's important to note that while there may not be different types of Florida Rule 144 Sellers Representation Letter specifically for non-affiliates, variations of this letter might exist depending on the specific circumstances of the sale or the requirements of the transfer agent or broker-dealer involved.