Series 99: 1.2.5.5 Transferring Legend Stock

Taken from our Series 99 Top-off Online Guide

1.2.5.5  Transferring Legend Stock

A legend is a statement on a stock certificate noting restrictions on the transfer of the stock. A legend usually means that selling the stock may be more difficult, lowering the stock’s liquidity. Legends are common when securities are issued in private placements and the securities have not been registered with the SEC. SEC Rule 144 (see next section) outlines the condition

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