Redemption Drafts; Shareholder Information Clause Samples
The 'Redemption Drafts; Shareholder Information' clause governs the procedures and requirements for redeeming shares and the collection or provision of shareholder data. Typically, it outlines how shareholders can request redemption of their shares, the documentation or forms required, and the timeline for processing such requests. Additionally, it may specify the type of information shareholders must provide to the company, such as identification or account details, to facilitate redemptions. This clause ensures that the redemption process is orderly and transparent, while also enabling the company to maintain accurate records and comply with regulatory obligations.
Redemption Drafts; Shareholder Information. (a) Where a Fund offers its Shareholders draft redemption privileges, each such Fund shall be entitled to supply its Shareholders with redemption drafts, but only in a form and substance agreed to by the Bank. The Bank agrees to give each Fund sixty (60) days prior notice of any changes to the form or substance of redemption drafts required by the Bank, provided that if such change is required by applicable rules or procedures of the Federal Reserve or any clearinghouse through which such drafts may be presented, the Bank may give less than sixty (60) days prior notice of such change.
(b) Each Fund which offers its Shareholders draft redemption privileges will promptly furnish to the Bank (i) the name, mailing address and telephone number of each Shareholder of such Fund, and (ii) specimen signatures for all individuals authorized to draw redemption drafts (whether on their own behalf or on behalf of third parties). Each Fund will promptly advise the Bank of individuals no longer authorized to draw redemption drafts, and those individuals newly authorized. Such information shall be provided to the Bank in a mutually agreed upon format.
Redemption Drafts; Shareholder Information. (a) Each Fund shall be entitled to supply its Shareholders with redemption drafts, but only in a form and substance agreed to by the Bank. The Bank agrees to give each Fund sixty (60) days prior notice of any changes to the form or substance of redemption drafts required by the Bank, provided that if such change is required by applicable rules or procedures of the Federal Reserve or any clearinghouse through which such drafts may be presented, the Bank may give less than sixty (60) days prior notice of such change.
(b) Each Fund will promptly furnish to the Bank (i) the name, mailing address and telephone number of each Shareholder of such Fund, and (ii) specimen signatures for all individuals authorized to draw redemption drafts (whether on their own behalf or on behalf of third parties). Each Fund will promptly advise the Bank of individuals no longer authorized to draw redemption drafts, and those individuals newly authorized. Such information shall be provided to the Bank in a mutually agreed upon format.
Redemption Drafts; Shareholder Information. (a) Each Fund shall be ------------------------------------------ entitled to supply its Shareholders with redemption drafts, but only in a form and substance agreed to by the Bank. The Bank agrees to give each Fund sixty (60) days prior notice of any changes to the form or substance of redemption drafts required by the Bank, provided that if such change is required by applicable rules or procedures of the Federal Reserve or any clearinghouse through which such drafts may be presented, the Bank may as promptly as practicable give such notice which may be less than sixty (60) days.
(b) Each Fund will promptly furnish to the Bank (i) the name, mailing address and telephone number of each Shareholder of such Fund, and (ii) specimen signatures for all individuals authorized to draw redemption drafts (whether on their own behalf or on behalf of third parties). Each Fund will promptly advise the Bank of individuals no longer authorized to draw redemption drafts.
Redemption Drafts; Shareholder Information. (a) Each Fund shall be entitled to supply its Shareholders with redemption drafts, but only in a form and substance agreed to by the