Surrender of certificate triggers issuer cancellation and substitution of depository as registered owner, with depository recording beneficial owner. A person who has agreed to use depository services must surrender the certificate of security as prescribed; the issuer must cancel the surrendered ... Summary
Surrender of certificate triggers issuer cancellation and substitution of depository as registered owner, with depository recording beneficial owner.
A person who has agreed to use depository services must surrender the certificate of security as prescribed; the issuer must cancel the surrendered certificate, record the depository as the registered owner and inform the depository; the depository must record the surrendering person as the beneficial owner.
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