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A stock transaction that requires special documentation in addition to standard stock or bond power to be legally valid.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
The transfer of a security that requires extra documentation. For example, the sale of a security by the estate of a dead person may require the executor of the estate or someone else to submit a death certificate in addition to the security's own certificate. In this case, legal transfer ensures that the executor has not stolen the security from the deceased.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
The transfer of a registered security when more than an endorsed bond or stock power is required for legal change of ownership. For example, transfer of securities registered to a deceased person usually requires submission of a death certificate.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.