The Guidelines of the Securities Transfer Association, Inc.
The Guidelines, last updated in April 2001, have been updated and revised in October 2005. They now include information on the Paperless Legals Program, which eliminates the requirement for supporting documentation for many transfer requests accompanied with an acceptable Medallion Signature Guarantee.
In general, these Guidelines supplement Article 8 of the UCC and related decisional authority. They attempt to provide guidance to both the transfer agent and the presentor of securities in the effective operation of the transfer function. The Guidelines also address the obligation of the transfer agent under Securities and Exchange Commission Rules governing the reporting of lost or stolen securities and they also include recommended guidelines for dealing with cancelled securities.
It must also be pointed out that when States adopt a Uniform Act, such as the UCC, they are free to make modifications; and to that extent the “uniformity” of the Uniform Act is diluted. Questions of State differences and of interpretation of any Sections should be referred to legal counsel.
TO ORDER THE STA GUIDELINES BOOK:
(mail orders must prepaid by check or money order)
