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Re: Jimthorpe post# 92777

Tuesday, 02/15/2011 6:52:52 PM

Tuesday, February 15, 2011 6:52:52 PM

Post# of 118239
Just a little info for the (hopefully) new people

Public companies typically use transfer agents to keep track of the individuals and entities that own their stocks and bonds. Most transfer agents are banks or trust companies, but sometimes a company acts as its own transfer agent.

This could explain why whalecatcher got a letter from his bank.

Transfer agents perform three main functions:
(I only included one)
Issue and cancel certificates to reflect changes in ownership. For example, when a company declares a stock dividend or stock split, the transfer agent issues new shares. Transfer agents keep records of who owns a company's stocks and bonds and how those stocks and bonds are held—whether by the owner in certificate form, by the company in book-entry form, or by the investor's brokerage firm in street name. They also keep records of how many shares or bonds each investor owns.


http://en.wikipedia.org/wiki/Transfer_agent

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