 | | This term may refer to two different operations. For one, the delivery of a stock certificate from the seller's broker to the buyer's broker and legal change of ownership. This normally is accomplished within a few days. For another, to record the change of ownership on the books of the company by the transfer agent. When the purchaser's name is recorded on the books of the company, dividends, notices of meetings, proxies, financial reports and all pertinent literature sent by the issuer to its securities holders are mailed directly to the new owner. (See Para. 601.01.) |
