FAQs

One kind of power of attorney that allows someone other than the owner to give ownership of shares to a third party is a stock power. If Unlock Prodigy receives a correctly executed stock power, the Registrar will have the authority to transfer ownership of the stock to a third person.

A stop transfer is an order placed against a specific stock or bond certificate that has been reported lost, stolen, or misplaced. Transfers are therefore not allowed until the security has been found or altered.

The exact day that the security's issuer designates as the record date is used to determine which owners are qualified to receive a payout or dividend.

A known date for the payment of stock dividends. The day that a declared stock dividend is anticipated to be disbursed to shareholders is known as the payment date.

A corporate move known as a stock split occurs when a company increases the number of current shares into multiple shares. Even if the number of shares increases by a certain amount, the split's actual value is retained, so the total dollar worth of the shares stays the same. Stock splits are carried out, among other reasons, when a company's share price has increased to the point that investors can no longer afford to buy the stocks. Other names for the phrase "stock split" include "scrip issue," "bonus issue," "capitalization issue," and "free issue."

A seal applied on securities to confirm the legitimacy and legal authority of a signature on a certificate or stock power is known as a Medallion Guarantee. A Medallion Guarantee is offered by an approved organization, such as a trust business, broker, or commercial bank. Only companies that are a part of an officially recognized program are permitted to offer this Medallion Guarantee.

Backup withholding is applied to investment income at a pre-specified tax rate when an investor withdraws their money. The purpose of backup withholding is to help ensure that tax collection agencies can collect the income taxes that investors owe them from their earnings.

Please contact us by phone or email as soon as possible if you misplace a stock certificate so that we can mark the certificate as "STOP." Once the "STOP" has been established, it could be necessary to complete the "lost instrument bond" form. Dial us at any time to discuss.

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