Select American Transfer Company

[Art2Gecko]

Now here is something interesting worth looking into.

It seems as of 4/27/2007 that Select American Transfer was a participating member of the "paperless legal" and STAMP programs.
http://www.stai.org//paperless.php http://www.stai.org//stamp.php

SAT can be found in both of the below documents.
http://www.stai.org//docs/PARTICIPATINGprog.xls
http://www.stai.org/pdfs/ope_1484_All_In.pdf

The Securities Transfer Agents Medallion Program, Inc. (STAMP, Inc.) is a not-for-profit corporation and is an official signature guarantee program recognized and approved by the financial industry and is exclusively supported and endorsed by the Securities Transfer Association (STA).

The STAMP program facilitates the equitable treatment of eligible guarantor institutions and promotes the prompt, accurate and safe transfer of securities by providing the Transfer Agent with adequate protection against risk of financial loss if persons have no recourse against the Guarantor, and adequate protection against the issuance of unauthorized guarantees. Transfer Agents and others who rely on a guarantee from a member of a Signature Guarantee Program are protected against loss from wrongful endorsements if the Guarantor is unwilling to meet, or is incapable of meeting, its financial obligation under its program’s indemnity agreement.

Once a guarantor joins the STAMP Program they must acquire the necessary STAMP guarantee equipment, and obtain Surety Bond coverage, which could be obtained at little cost from the Guarantor institution’s existing insurance carrier in many cases.


Some additional resources

U.C.C. - ARTICLE 8 - INVESTMENT SECURITIES
..PART 3. TRANSFER
http://www.law.cornell.edu/ucc/8/8-306.html

Controls Governing the Processing of Securities Transfers
http://www.fdic.gov/regulations/examinations/trustmanual/section_11/rta_manualinternalcontrols.html


Title 17: Commodity and Securities Exchanges
PART 240—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934 § 240.17Ad-15 Signature guarantees.
http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=f4397817785a5c235a0234dc0f452588&rg...