Common use of Transfer of Fractional Shares Clause in Contracts

Transfer of Fractional Shares. While the Client maintains complete day-to-day control of any fractional Shares in their account, fractional Shares are not transferable to another broker. If the Client wants to transfer the holdings in an account to another brokerage firm, the fractional Share holdings cannot be transferred and will need to be liquidated before transfer, which may have tax consequences and will result in commission charges. To effect a request for a transfer of fractional Shares, an order will need to be initiated to close the fractional Share component of the position. Once the, fractional Share components are liquidated, IBIE will then transfer the remaining whole Share quantities. IBIE will charge commissions on closing trades of fractional Share positions.

Transfer of Fractional Shares. While the Client maintains complete day-to-day control of any fractional Shares in their account, fractional Shares are not transferable to another broker. If the Client wants to transfer the holdings in an account to another brokerage firm, the fractional Share holdings cannot be transferred and will need to be liquidated before transfer, which may have tax consequences and will may result in commission charges. To effect a request for a transfer of fractional Shares, an order will need to be initiated to close the fractional Share component of the position. Once the, fractional Share components are liquidated, IBIE will then transfer the remaining whole Share quantities. IBIE will charge commissions on closing trades of fractional Share positions.

Transfer of Fractional Shares. While the Client maintains complete day-to-day control of any fractional Shares in their account, fractional Shares are not transferable to another broker. If the Client wants to transfer the holdings in an account to another brokerage firm, the fractional Share holdings cannot be transferred and will need to be liquidated before transfer, which may have tax consequences and will result in commission charges. To effect a request for a transfer of fractional Shares, an order will need to be initiated to close the fractional Share component of the position. Once the, fractional Share components are liquidated, IBIE will then transfer the remaining whole Share quantities. IBIE will charge commissions on closing trades of fractional Share positions...