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:
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.
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.