Mutilated security exists as a "good delivery" if it stands accompanied by a letter of validation from the issuer or transfer agent.
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What is Mutilated security?</h3>
Mutilated security is a a certificate on which the issuer's name, another identifying information, or both cannot be read. Mutilated security is a a certificate on which the issuer's name, another identifying information, or both cannot be read.
For the benefit of the security issuer, transfer agents keep track of security holder information, record ownership changes, cancel and reissue certificates, and disburse dividends. Typically, banks or trust organizations serve as transfer agents, but occasionally a business will serve in this capacity.
A corporation's change of ownership is managed by an entity known as a stock transfer agent, transfer agent, share registry, or transfer agency, which is typically a third-party company unrelated to securities transactions.
Hence, Mutilated security exists as a "good delivery" if it stands accompanied by a letter of validation from the issuer or transfer agent.
To learn more about Mutilated security refer to:
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