Houston Texas Business Lawyer

Transfer Agent Opinions - Houston Lawyers Brewer & Pritchard, P.C.

The attorneys at Brewer & Pritchard, P.C. have extensive experience navigating rules and regulations set by the Securities and Exchange Commission (SEC). This includes assisting shareholders, stockbrokers, corporate issuers and others who may need to make public sales of restricted securities. We can process such complex opinions efficiently so you can have the freedom to make the best decisions for your business.

Understanding Rule 144

Included as part of the Securities Act of 1933, Rule 144 is the most common means for holders to sell restricted securities. Such securities are obtained in an unregistered, private sale from the issuing company or an affiliate. These securities cannot be sold publicly unless they qualify for an exemption due to restrictions outlined on the security certificate. Such a restriction is commonly referred to as a "restrictive legend." A third party known as a "transfer agent" must remove the restrictive legend from the security certificate in order for the sale to be finalized under Rule 144.

In most cases, a transfer agent will only remove a restrictive legend if given an opinion letter by the issuer's counsel. Preparing and submitting these opinion letters can be a fairly involved process that involves inquiries to and from shareholders, stockbrokers, issuers, transfer agents and other parties. And if a mistake is made at any point in the process, you may not be able to have the restrictive legend removed.

This is where an experienced transfer agent opinion attorney can make a significant difference. As part of our corporate finance practice, we know how to assist those who need to make public securities sales in an efficient and accurate manner.

In addition to Rule 144, we are familiar with other exemptions under Rule 144(k), Rule 145 and Rule 701. If you believe your desired transaction may be covered under those exemptions, we can help you navigate your way through such complex legal territory.

Transfer agent opinions prepared accurately and efficiently. Call today

Removing a restrictive legend is a complex process, with potentially serious consequences for you and your business if it is not completed properly. That's why it's so important to contact an experienced attorney in a timely manner. That way, we can help you prepare all necessary documents and make all necessary inquiries.

Discover what our firm can do for you. Call today: 800-445-8710.