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Assignment in Blank
Source: Encyclopedia of Banking & Finance (9h Edition) by Charles
J Woelfel
(We recommend this as work of authority.)
A
formal transfer of title to stock or registered bonds in which the space
for the insertion of the name of the new owner is left blank, so that
the name may be written in at any subsequent time.
An assignment form will be found on the reverse side of certificates
of stock or registered bonds. Stock
certificates or registered bond assigned in blank become bearer instruments
in that title passes by mere delivery; thus they should not be purchased
from an unknown person without proper identification and evidence of genuineness
of the signatures of the assignor and witnesses.
A STREET CERTIFICATE is assigned in blank.
A
form of assignment on the reverse side of a stock certificate which has
been approved by the Committee on Stock List of the New York Stock Exchange
is appended.
Reserve
Side Stock Assignment Form
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For value received
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Hereby sell, assign
and transfer unto ________________________________________________________________
Shares of the capital stock represented by the within certificate,
and do hereby irrevocably constitute and appoint ________________________________________________________________
Attorney
to transfer the said stock on the books of the within named company
with full power of substitution in the premises.
Dated
_______________________________
(Signature)
____________________________________
In
the presence of
________________________________________________________________
Note:
The signature of this assignment must correspond with the
name as written on the face of this certificate in every particular
without alteration or enlargement or any change whatever.
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Such
an assignment is a means of transferring title of stocks from a seller
to purchaser, assignment being the method of negotiating stocks, whereas
endorsement (and delivery) is the method of negotiating checks, drafts,
money orders, and other negotiable instruments.
In
collateral loan practice, it is customary to pledge any unendorsed certificates
plus executed separate assignments in blank with the lender, so that the
certificates may be returned and the assignments destroyed upon payment
of the loan. For assignment
separate from the stock certificate, the following form is approved by
the New York Stock Exchange:
Separate
Stock Assignment Form
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For value received
_____________________________________________________ hereby
sell, assign
And
transfer unto _____________________________________________________________________
(
____________ ) Shares of the __________________________________________________________
Capital
Stock of the __________________________________________________________________
Standing
in _________________________________________________________________
name
On
the books of said __________________________________________________________
represented
By
Certificate No. _______________________________________________
herewith and do hereby irrevocably constitute and appoint _____________________________________
attorney to transfer the said stock on the books of the within named
Company with full Power of Substitution in the premises.
Dated
_______________________________
(Signature)_______________________
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For
assignment separate from the registered bond, the following form is approved
by the New York Stock Exchange:
Separate
Bond Assignment Form
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For value received _____________________________________________________
hereby sell, assign
And
transfer unto _________________________________________________________________
One
bond of the _____________________________________________________
for ($____________)
No.
_________________________________________________________________
herewith, standing
in
_________________________________________________________________
name on the books
of
said ________________________________________________________________
and do hereby
irrevocably
constitute and appoint _____________________________________ attorney
to transfer the said bond on the books of the within named company,
with full Power of Substitution in the premises.
Dated
_______________________________
(Signature)
__________________________________
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