Guide to Restrictions

The following documentation is required for legend removal pursuant to Rule 144. Please see downloadable documentation below. Please call our office for the requirements associated with any other exemption being used.  As a non-routine item, notice

 

LEGEND REMOVAL

 

1. Original Certificate

2. Written request to remove the legend.
3. Legal Opinion Letter (from legal counsel of the issuer or any securities lawyer in good standing) 
4. Seller’s Representation Letter

5. Broker’s Representation Letter and copy of the filed Form 144 (only necessary for affiliate resales)
6. Mailing Instructions to deliver new certificate
7. Applicable Fees as follows:

 

·        $125.00 to remove the restriction and issue new certificate

·        $3.00 to cancel old certificate

·        $45.00 for FedEx Priority Overnight or pre-paid way bill by any Courier Service provided by you.

 

As a non-routine item, notice of the legend removal request will be sent to the issuer.  The issuer is given 3 business days to affirm or reject the legend removal, though more time may be given in some circumstances.  Should the removal be rejected, Island will request the issuer to provide legal justification for the rejection, which will be provided to the shareholder if requested. 

 

TRANSFER OF TITLE

 

1. Original Certificate
2. Original Stock Power with Medallion Guaranteed signature of transferor
3. Instructions to transfer, if not already fully identified on the Stock Power, which should include:
     A. Names, Addresses, Social Security Numbers (or passport of government issued ID number for          non U.S. citizens/residents) of each transferee.  Please also provide Phone # and Email (if available).

4. Cost Basis

5. Mailing Instructions to deliver new certificate(s)
6. Applicable Fees as follows:

 

·        $3.00 to cancel old certificate

·        $25.00 to issue one free trading certificate

·        $28.00 to issue one restricted certificate

·        $45.00 for FedEx Priority Overnight or pre-paid way bill by any Courier Service provided by you.

Legend Removal Forms

Or submit your question below:

For more information please contact us:

Visit

15500 Roosevelt Blvd,

Suite 104

Clearwater, FL 33760

Call

T: 1.727.289.0010

F: 1.727.289.0069

Member of The Securities Transfer Association and a participant in the DWAC-FAST at DTCC

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