(1) Every issuer of a security required to be registered pursuant to Florida Statutes § 517.081, having in excess of one hundred (100) shareholders of record after distribution of its securities shall be required to appoint and maintain an independent transfer agent and/or registrar for its securities. Said transfer agent shall be duly registered with the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System or the Securities and Exchange Commission.

Terms Used In Florida Regulations 69W-700.021

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
    (2) Each agency agreement shall provide that the following records will be maintained or preserved for a period of not less than six (6) years:
    (a) Blotters or other records of original entry containing itemized daily record of all receipts and deliveries of the issuer’s securities.
    (b) Ledger reflecting the individual transfer records for the issuer’s separate securities.
    (c) A separate ledger record of restricted securities and restrictive legend thereon.
Rulemaking Authority 517.03 FS. Law Implemented 517.03(1) FS. History-New 9-20-82, Formerly 3E-20.20, 3E-700.21, 3E-700.021.

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