Looking for a California Legal Forms And Templates? Download it for free!

Barclays Official California Code Of Regulations Form - Department Of Corporations Of State Of California

10 CA ADC § 260.141.13

10 CCR s 260.141.13

Cal. Admin. Code tit. 10, s 260.141.13

BARCLAYS OFFICIAL CALIFORNIA CODE OF REGULATIONS

TITLE 10. INVESTMENT

CHAPTER 3. COMMISSIONER OF CORPORATIONS

SUBCHAPTER 2. CORPORATE SECURITIES

ARTICLE 5. CONDITIONS OF QUALIFICATION

SUBARTICLE 2. CONDITIONS RESTRICTING TRANSFER OF OTHER SECURITIES

This database is current through 12/07/07, Register 2007, No. 49

s 260.141.13. Release of Outstanding Escrows.

(a) All previous permits issued by the Commissioner under the California Corporate Securities Law as

it existed prior to January 2, 1969, requiring the escrow of securities (other than promotional shares

subject to waivers of assets or dividends and other than shares issued by corporations licensed under the

Escrow Law, Sections 17000 and following, California Financial Code) shall be deemed amended to

delete the escrow condition and to substitute therefor a legend condition restricting the transfer of such

securities pursuant to Section 260.141.11 of these rules and subject to the qualifications and exceptions

contained in that section of these rules, as to any or all such securities (other than promotional shares

subject to waiver of assets or dividends and other than shares issued by corporations licensed under the

Escrow Law, Sections 17000 and following, California Financial Code), upon the escrow holder

holding the certificates representing the same stamping or printing prominently on their face a legend in

the form prescribed by Section 260.141.11 of these rules. The escrow holder may take this action at his

own election and must take said action upon the written request of any or all of the record owners of

such securities. The escrow holder is hereby authorized to release certificates so legended to the record

owners thereof, and is required to release certificates to any record owner upon whose written request

they have been legended, or who makes a written request to the escrow holder for delivery of

certificates which have been legended at the election of the escrow holder. Upon such release of

certificates to the record owner, the escrow holder shall also deliver to the record owner a copy of

Section 260.141.11 of these rules.

Any such escrow holder releasing securities from escrow pursuant to this section must within one

month thereafter notify the Commissioner of such action.

(b) The notice referred to in Subsection (a) shall be in the following form, on which shall be printed a

copy of Subsection (a):

TO THE COMMISSIONER OF CORPORATIONS OF

Barclays Official California Code Of Regulations Form - Department Of Corporations Of State Of California