True FL Native...TELT...uncertified shares: Here's an article from another company (that's on the NYSE) explaining the change in their bylaws to allow uncertified shares and why they did it (so they can do direct registration). I'm sure this is the same reason why TELT did it. "direct registration" is a requirement for major stock exchanges ( 2007 Nasdaq put out a statement saying that "New Rules Require NASDAQ-Listed
Companies To Be Eligible For A Direct Registration Program By January 2008")
"Stockholders of MarineMax Inc. will be able to more easily make trades, following action by the company's board of directors.
Effective Nov. 7, the board amended the company's bylaws to allow it to issue uncertified shares of its common stock, according to a filing Friday with the Securities and Exchange Commission. That allows MarineMax to participate in the direct registration systems administered by The Depository Trust Co.
The direct registration system allows stockholders to have shares of MarineMax registered in their names, without the issuance of physical certificates, and gives stockholders the ability to electronically transfer shares to brokers in order to make trades without the need to transfer physical certificates, the filing said.
Stockholders still can get stock certificates if they request them in writing."
MarineMax (NYSE: HZO) is a Clearwater-based boat retailer.
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