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Unpaid Dividend Account procedures require timely transfer and eventual remittance to investor protection fund with penalties for noncompliance. Declared dividends unpaid or unclaimed after thirty days must be transferred within seven days to a Unpaid Dividend Account; a statement of names, addresses and unpaid amounts must be published within ninety days. Default triggers interest from the date of default for the benefit of members. Amounts unclaimed for seven years must be transferred, with interest, to the designated Fund and corresponding shares transferred to the Investor Education and Protection Fund, with prescribed reporting and claim procedures. Specified fines apply for non-compliance.
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Provisions expressly mentioned in the judgment/order text.
Unpaid Dividend Account procedures require timely transfer and eventual remittance to investor protection fund with penalties for noncompliance.
Declared dividends unpaid or unclaimed after thirty days must be transferred within seven days to a Unpaid Dividend Account; a statement of names, addresses and unpaid amounts must be published within ninety days. Default triggers interest from the date of default for the benefit of members. Amounts unclaimed for seven years must be transferred, with interest, to the designated Fund and corresponding shares transferred to the Investor Education and Protection Fund, with prescribed reporting and claim procedures. Specified fines apply for non-compliance.
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