Unless you agree otherwise by contract. For instance, if Turner Hughes wants to sell the shell to Mr. Weiss, and Mr. Weiss is concerned about the administrative burden of sending out hundreds of certs and tracking down who is rightfully entitled to them, he would add an agreement that TH would send out the certs.
Would you want to buy a shell that needed to deal with this issue?
On the other hand, if I were buying a shell, I might have chosen to just deal with the issue on my own for a discounted price. However, it all depends on what your experience is with securities and dividends.
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