Alabama Security is a financial institution that offers a range of security services to its clients. When it comes to the ownership of directors, nominees, and officers, Alabama Security maintains detailed records of sole and shared ownership. Sole ownership refers to a situation where a director, nominee, or officer holds complete ownership of a security without any other individual or entity sharing the ownership. In such cases, the individual or officer has full control and decision-making authority over the security. Shared ownership, on the other hand, occurs when multiple individuals or entities hold ownership of a security together. This type of ownership can be classified into different types based on the relationship and arrangement between the owners. Some common forms of shared ownership in Alabama Security include: 1. Joint Tenancy: In joint tenancy, two or more individuals have equal ownership rights to a security. If any joint tenant passes away, their share automatically transfers to the surviving joint tenants. This arrangement ensures that the security remains intact and is not affected by the death of one owner. 2. Tenancy in Common: Tenancy in common is a form of shared ownership where each individual or entity holds a specific percentage or share of a security. Unlike joint tenancy, there is no automatic transfer of ownership rights in case of death. Each owner has the flexibility to sell, exchange, or transfer their share without the consent of other owners. 3. Partnership: If the ownership of a security is held by multiple individuals through a business partnership, it is considered a shared ownership. Partnerships can be general partnerships, limited partnerships, or limited liability partnerships, each having different levels of liability and management involvement. 4. Trust: In certain cases, the ownership of a security may be held by a trust, with directors, nominees, or officers acting as trustees. The beneficiaries of the trust are entitled to the income or assets generated from the security, while the trustees have the legal authority to manage the security on behalf of the beneficiaries. These different types of ownership provide flexibility and options for directors, nominees, and officers of Alabama Security to hold and manage securities in a manner that suits their individual needs and circumstances.
Alabama Security ownership of directors, nominees and officers showing sole and shared ownership
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1975, § 8-6-11(a)(9), any offer or sale of securities which is made in compliance with the following requirements of this rule will be deemed to be an exempt transaction and Code of Ala.
The Companies Act 2006 simply refers to a shareholder's right to appoint ?another person?. Therefore, a shareholder can appoint any other person to serve as their proxy. There is no statutory requirement for a proxy to be a shareholder, director, or secretary of the company.
A beneficial owner of a company is any individual who, directly or indirectly, exercises substantial control over a reporting company, or who owns or controls at least 25 percent of the ownership interests of a reporting company.
Registered owners (or record holders) receive a proxy and cast votes directly with the company that issues the shares. Beneficial owners, on the other hand, receive a ?voting instruction form? directing their brokerage firm or other financial institution how to vote their shares.
?When used in this title, unless the context otherwise requires? (1) The term ''security'' means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, ...
A beneficial owner is someone who owns at least part of a property or other asset, even if its legal title is owned by someone else. That person can also vote on or otherwise influence decisions regarding transactions involving that asset or property. An example is a corporate shareholder.
Under financial regulations, a beneficial owner is considered anyone with a stake of 25% or more in a legal entity or corporation. Beneficial owners can also be considered anyone with a significant role in the management or direction of those entities, or any trusts that own 25% or more of an entity.
Rights to acquire beneficial ownership: Under Rule 13d-3(d)(1), a person is deemed a beneficial owner of an equity security if the person (1) has a right to acquire beneficial ownership of the equity security within 60 days or (2) acquires the right to acquire beneficial ownership of the equity security with the ...