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A older Member of our CO-OP wishes to add his daughters name to his stock certificate..the question is does a new stock certificate need to be issued ...or can the daughters name be added to the existing stock certificate? We did require that this transaction be handled the same way as if she was a new person wishing to become a member of our CO-OP (credit check, background check) and all was fine. If she is married should we also require the same regarding her spouse...?
A older Member of our CO-OP wishes to add his daughters name to his stock certificate..the question is does a new stock certificate need to be issued ...or can the daughters name be added to the existing stock certificate? We did require that this transaction be handled the same way as if she was a new person wishing to become a member of our CO-OP (credit check, background check) and all was fine. If she is married should we also require the same regarding her spouse...?
It's a transfer from a single owner to a joint tenancy, so a new certificate should be issued and the old one should be cancelled. There may be gift tax implications, but that's for him to report.
Contact investor relations at the company the stock is for and ask what to do. Many companies have an "Investor Relations" link on their web site. Or that will be listed under "company information", "about us", or "contact".
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