A stock power is a power of attorney enabling a person other than the owner to transfer stock ownership to another party. A properly executed stock power received by Reliance Global Limited will empower Reliance Global Investment Registrar to transfer stock ownership to a third party.
A stop transfer is an order placed against a particular stock or bond certificate that has been reported lost or stolen. This prevents any transfers being made until the security has been found or replaced.
A record date is the exact date established by an issuer of a security for the purpose of determining the shareholders who are entitled to receive a dividend or distribution.
The date on which a declared stock dividend is scheduled to be paid. A payable date is the date on which a declared stock dividend is scheduled to be paid to shareholders.
A stock split is a corporate action in which a company’s existing shares have been increased into multiple shares. Granting that the number of shares increase by a specific number, the total dollar value of shares remains the same, because no real value has been added as a result of the split. One reason as to why stock splits are performed is when a company’s share price has escalated so high that the stocks are too expensive to be purchased by investors. The term stock split is also referred to as scrip issue, bonus issue, capitalization issue or free issue.
A Medallion Guarantee is a guarantee seal applied to securities to certify that the signature on a certificate or stock power is genuine and has legally binding authority. A Medallion Guarantee is obtained from an eligible institution, such as a commercial bank, broker, or trust company. Only institutions participating in an officially recognized Medallion Guarantee program may provide this Medallion Guarantee.
Backup Withholding is when tax that is levied on investment income when the investor withdraws his or her investment income, at an established tax rate. Backup withholding helps to ensure that government tax-collecting agencies will be able to receive income taxes owed to them from investors’ earnings.
If you have lost a stock certificate, you should contact or email us immediately so that we may place a “STOP” on the form of certificate. Once the “STOP” is placed, please fill out, you may need to complete a “lost instrument bond” form. Feel free to call us to discuss.