Source: http://ecfr.io/Title-17/se17.4.240_117ad_617
Timestamp: 2019-08-25 23:07:32
Document Index: 384298220

Matched Legal Cases: ['§240', 'art 240', '§240', 'art 240', '§240', 'art 240', '§240', '§240', '§240']

[17 CFR §240.17ad-17] Title 17 Part 240 → §240.17ad-17 : Code of Federal Regulations ';
Title 17 Part 240 → §240.17ad-17
Title 17 → Chapter II → Part 240 → §240.17ad-17
§240.17Ad-17 Lost securityholders and unresponsive payees.
(2) A transfer agent, broker, or dealer may not use a search method or service to establish contact with lost securityholders that results in a charge to a lost securityholder prior to completing the searches set forth in paragraph (a)(1) of this section.
(1) Information data base service means either:
(i) Any automated data base service that contains addresses from the entire United States geographic area, contains the names of at least 50% of the United States adult population, is indexed by taxpayer identification number or name, and is updated at least four times a year; or
(ii) Any service or combination of services which produces results comparable to those of the service described in paragraph (b)(1)(i) of this section in locating lost securityholders.
(2) Lost securityholder means a securityholder:
(i) To whom an item of correspondence that was sent to the securityholder at the address contained in the transfer agent's master securityholder file or customer security account records of the broker or dealer has been returned as undeliverable; provided, however, that if such item is re-sent within one month to the lost securityholder, the transfer agent, broker, or dealer may deem the securityholder to be a lost securityholder as of the day the resent item is returned as undeliverable; and
(ii) For whom the transfer agent, broker, or dealer has not received information regarding the securityholder's new address.
(d) Every recordkeeping transfer agent, every broker or dealer that has customer security accounts, and every paying agent shall maintain records to demonstrate compliance with the requirements set forth in this section, which records shall include written procedures that describe the transfer agent's, broker's, dealer's, or paying agent's methodology for complying with this section, and shall retain such records in accordance with Rule 17Ad-7(i) (§240.17Ad-7(i)).