North Carolina Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares

State:
Multi-State
Control #:
US-1058BG
Format:
Word; 
Rich Text
Instant download

Description

A Legend is a statement on a stock certificate noting restrictions on the transfer of the stock, often due to SEC requirements for unregistered securities. The Securities Act of 1933 regulates the initial sale of securities to the public. Some securities are exempt from coverage of the Act. Certain stock issue transactions are also exempt (i.e., exempt from registration with the Securities and Exchange Commission). This Legend restricts the transfer of stock in accordance with the Articles of Incorporation or the Corporation's Bylaws or a Shareholder's Buy Sell Agreement.

How to fill out Legend On Stock Certificate With Reference To Separate Document Restricting Transfer Of Shares?

Are you currently inside a place where you need to have files for both business or individual purposes virtually every day time? There are tons of authorized record layouts available on the net, but discovering types you can trust is not effortless. US Legal Forms offers a large number of develop layouts, such as the North Carolina Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares, that are written in order to meet federal and state requirements.

Should you be currently acquainted with US Legal Forms website and get your account, basically log in. Following that, you are able to obtain the North Carolina Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares template.

If you do not provide an accounts and wish to begin using US Legal Forms, abide by these steps:

  1. Obtain the develop you need and ensure it is to the appropriate city/region.
  2. Use the Review key to analyze the shape.
  3. See the description to ensure that you have selected the correct develop.
  4. If the develop is not what you are seeking, take advantage of the Research industry to obtain the develop that suits you and requirements.
  5. Once you discover the appropriate develop, click on Acquire now.
  6. Choose the rates prepare you would like, fill in the required details to create your money, and buy an order using your PayPal or bank card.
  7. Select a convenient document structure and obtain your version.

Locate all of the record layouts you possess bought in the My Forms food selection. You can get a more version of North Carolina Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares whenever, if needed. Just go through the required develop to obtain or print out the record template.

Use US Legal Forms, one of the most substantial collection of authorized types, to save time and steer clear of errors. The services offers expertly created authorized record layouts that can be used for an array of purposes. Produce your account on US Legal Forms and commence creating your daily life easier.

Form popularity

FAQ

Restricted stock refers to unregistered shares of ownership in a corporation that are issued to corporate affiliates, such as executives and directors. Restricted stock is non-transferable and must be traded in compliance with special Securities and Exchange Commission (SEC) regulations.

In order to have the legend on a stock certificate removed, investors should contact the company's shareholder relations department to find out the details of the removal process. Following that, the company will send a confirmation authorizing its transfer agent to remove the legend.

In general, restricted securities are acquired in a nonpublic transaction (private placement). Such securities are unregistered, can only be resold under certain conditions and usually bear a legend to that effect.

Only a transfer agent can complete the task of removing a restrictive stock legend. The transfer agent will require an opinion letter from the issuer's counsel or from his or her own lawyer plus 144 papers completed by a broker?stating that the restricted legend can be removed.

The purpose of the restrictive legend or notation is to protect the issuing company from loosing its private placement exemption for the initial sale of the securities and to notify the investor that the restricted securities cannot be resold into the public securities market without satisfying certain requirements.

Trusted and secure by over 3 million people of the world’s leading companies

North Carolina Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares