No wonder the Transfer Agent wanted out. What a mess AZNT seems to be creating for itself.
I understand why the previous TA's resigned. Is this penny stock acting as its own agent, legit?
The fact is, if AZNT wants to act as their own transfer agent, they have to register with the SEC as such:
law.uc.edu
Part of Section 17A of the Securities Exchange Act of 1934:
<< c.
1.Except as otherwise provided in this section, it shall be unlawful for any transfer agent, unless registered in accordance with this section, directly or indirectly, to make use of the mails or any means or instrumentality of interstate commerce to perform the function of a transfer agent with respect to any security registered under Section 12 of this title or which would be required to be
registered except for the exemption from registration provided by subsection (g)(2)(B) or (g)(2)(G) of that section. The appropriate regulatory agency, by rule or order, upon its own motion or upon application, may conditionally or unconditionally exempt any person or security or class of persons or securities from any provision of this section or any rule or regulation prescribed under this section, if the appropriate regulatory agency finds
A.that such exemption is in the public interest and consistent with the protection of investors and the purposes of this section, including the prompt and accurate clearance and settlement of securities transactions and the safeguarding of
securities and funds, and
B.the Commission does not object to such exemption.
2.A transfer agent may be registered by filing with the appropriate regulatory agency for such transfer agent an application for registration in such form and containing such information and documents concerning such transfer agent and any persons associated with the transfer agent as such appropriate regulatory
agency may prescribe as necessary or appropriate in furtherance of the purposes of this section. Except as hereinafter provided, such registration shall become effective 45 days after receipt of such application by such appropriate regulatory agencyor within such shorter period of time as such appropriate regulatory agency may determine. >> |
