Common use of Transfer of Fractional Shares Clause in Contracts

Transfer of Fractional Shares. You generally cannot transfer fractional shares out of your account. If you want to transfer the securities in your account to another brokerage firm and the receiving firm does not accept fractional shares, we will transfer your whole shares. Fractional shares will be sold in the next Window after we receive your complete transfer instructions. The money from these fractional share sales will be deposited in your account and transferred according to the transfer instructions.

Transfer of Fractional Shares. You generally cannot transfer fractional shares out of your account. If you want to transfer the securities in your account to another brokerage firm and the receiving firm does not accept fractional shares, we will you authorize us to transfer your whole shares. Fractional shares will be sold and sell any fractional shares in your account in the next Window or any subsequent Window after we receive your complete transfer instructions. The money from these fractional share sales will be deposited in your account and then transferred according to the transfer instructions.