Replies to post #106475 on GNCC Capital Inc (GNCP)

[BigBake1]

Where does it state the broker dealer must provide a phisycal certificate upon demand. That doesn't state they must, it is clear that there is NO ABSOLUTE RIGHT OF THE CUSTOMER, meaning there is no absolute authority of the customer. You have in fact proven what I stated is correct. The broker doesn't have to comply with the customers request because the customer has no absolute right.

[Militia Man]

Oh man that is funny.. Reminds me of the 100 Share Fee trades at the bid too. lol

GNCP - sec 15c3-3 (l) Securities Exchange Act 1934 states

Nothing stated in this section shall be construed as affecting the absolute right of a customer of a broker or dealer to receive in the course of normal business operations following demand made on the broker or dealer, the physical delivery of certificates for:

(1) Fully-paid securities to which he is entitled,

All securities which are held in the indirect holding system ie street name, are subject to Uniform Commercial Code (UCC) 8.
They are entitlements and UCC Rules 8-504 to 8- 508 cover what are called security entitlement orders. In brief if the customer says they want their security delivered to then in certificate form then the broker must comply immediately.

Quote:Cite the rule that states that...... it is quite simple if such a rule existed.... but one doesn't and we already know they are not required to do such. - BigBake1



Good Luck!

[Tgarfield2]

This is false information and should not be a sticky.